Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, October 11, 2019

Article Excerpt

AT&T INC., $37.58, New York symbol T, is the largest wireless carrier in the U.S. It also offers traditional phone and satellite TV services. In June 2018, the company purchased media giant Time Warner (now called WarnerMedia) for $103 billion in cash and stock. AT&T plans to use WarnerMedia’s content to attract more users for the company’s wireless and TV services. AT&T will now sell its traditional telephone and wireless operations in Puerto Rico and the U.S. Virgin Islands for $1.95 billion. It expects to complete the sale in the next few months. The company will use the cash to pay down the loans it took on to buy WarnerMedia. As of June 30, 2019, its long-term debt was $157.9 billion. That still equals a high 58% of its $274.6 billion market cap (the total value of all shares outstanding). Including this deal, AT&T has now raised $10 billion by selling less-important assets this year. That’s higher than its initial target of $6 billion…

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