s stock price recently reached an all-time high but has since declined. Despite the dip, analysts remain optimistic about the company's future.
s shares recently hit an all-time high at $248.15 which no doubt led many of the carrier's executives to put on a happy face. But what goes up must come down and the carrier's shares have run into some profit-taking lately. Since peaking, s stock has declined $29.04 with the stock ending the week at $219.11 for an 11.7% decline off the all-time high. An insider at the company, Almeida, purchased 3,807 shares of the company at an average price of $235.717 per share.
The transaction took place on December 9th. Such insider stock purchases are often seen as a bullish signal since board members typically know much more about how a company's business is really performing than the typical Wall Street analyst or investor. Almeida's own money is at risk which also raises the importance of the purchase.announced that it would spend up to $14 billion through the end of this year to buy back its own shares. This is done to raise the value of existing stockholders' shares since the practice reduces the number of shares outstanding. We should note that following the buy/sell decisions made by company insiders is not a short-term system for investors. For example, less than one month after buying the 3,807 shares of Almeida was once European Head of Consumer and B2B Telco for Deutsche Telekom. He also held various leadership positions at Portugal Telecom. s stock has risen 35% over the last year and analysts are still bullish on the stock with price targets reaching as high as $280. Not all Wall Street firms are bullish on. KeyBanc Capital Markets downgraded the stock from Overweight to Sector Weight due to fears that the company is overvalued. Meanwhile, Bernstein SocGen Group started its coverage of s amazing journey that took it from last among the nation's big four wireless carriers to its current position at number two.is also the most innovative and fastest-growing carrier in the U.S. and the carrier is currently valued at $254.27 billio
STOCK MARKET TELECOMMUNICATIONS INSIDER TRADING BUYBACK PROGRAM ANALYST OUTLOOK
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: S&P 500 closes lower as Nvidia, AMD lead dip in techStock market today: S&P 500 closes lower as Nvidia, AMD lead dip in tech
Read more »
Buy the dip in this industrial stock despite 2024 guidance cut, Citi saysBuy the dip in this industrial stock despite 2024 guidance cut, Citi says
Read more »
Stock Futures Dip Ahead of Year-EndStock futures are slightly lower as investors await the final trading sessions of 2024. Despite strong performance this year, concerns about market momentum and profit-taking are emerging.
Read more »
Stock Futures Dip Ahead of Year-End TradingStock futures show slight declines as investors anticipate the final trading days of 2024. Major indices are nearing record highs but some analysts warn of potential market slowdown.
Read more »
Stock Futures Dip Slightly Ahead of Year-EndStock futures traded slightly lower Sunday evening, with investors anticipating the last few trading days of 2024. Major indices are nearing record highs, poised for their best year since 2021. Hopes for a 'Santa Claus Rally' persist, though some market analysts suggest potential for a slowdown.
Read more »
News Roundup: Ohtani's Triumph, Grammy Spotlight, Stock Market Dip, and MoreA selection of top news stories from various categories, including sports, music, technology, and climate change.
Read more »