Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

AT&T director buys shares after stock hits 30-year low

Published Nov 23, 2023 01:34
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

Amid a challenging year for AT&T, with its stock plunging to a 30-year low in July, Director Stephen J. Luczo has demonstrated his confidence in the company by purchasing a significant number of shares. This move comes after a Wall Street Journal report in July raised concerns about the safety of the company's legacy lead-lined cables, which AT&T has since strongly disputed.

The telecom giant, despite facing potential liabilities over these outdated cables, reported strong earnings over the year. However, the company's shares fell by 12%, starkly contrasting with the S&P 500's nearly 18% rise. Luczo's investment is seen as a counteraction to the market's response, which was influenced by the safety concerns highlighted in the report.

AT&T has been adamant in its stance that there is no cause for concern regarding its cables, refuting any potential liability. The company's firm rebuttal to claims of safety hazards reflects its commitment to maintaining its reputation and assuring investors and customers alike.

Luczo's decision to invest further in AT&T could be interpreted as a strategic move signaling his belief in the company's value and long-term prospects. It also suggests that he views the current low stock price as an opportunity rather than a setback, indicating a potential rebound for the media and telecommunications entity.

InvestingPro Insights

As AT&T navigates through a tumultuous period, real-time data and professional analysis provide a clearer picture of its financial health and future prospects. According to InvestingPro data, AT&T boasts a substantial market capitalization of $115.76 billion. Despite recent challenges, the company's revenue for the last twelve months as of Q3 2023 stands at an impressive $121.75 billion, with a modest growth of 1.04%. This financial stability is further underscored by a gross profit margin of 59.11%, indicating robust profitability on the services and products offered.

In the realm of investment insights, an InvestingPro Tip highlights that AT&T is expected to see net income growth this year, which could be a promising sign for investors like Luczo who are betting on the company's recovery. Furthermore, AT&T has been recognized as a prominent player in the Diversified Telecommunication Services industry, suggesting that its market position remains strong despite recent setbacks. Investors seeking more comprehensive analysis can find a wealth of additional InvestingPro Tips, with a total of 9 analysts having revised their earnings downwards for the upcoming period, providing a nuanced perspective on the company's financial trajectory.

For those considering an investment in AT&T, it's worth noting that the company is currently offering a significant dividend yield of 6.86%, which could be attractive to income-focused investors. Moreover, the InvestingPro subscription is now available at a special Black Friday sale, with discounts of up to 55%, offering subscribers access to a broader range of insights and tips to inform their investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

AT&T director buys shares after stock hits 30-year low

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email