OLD National Bancorp IN Increases Stake in AT&T Inc. (NYSE:T)

OLD National Bancorp IN raised its position in shares of AT&T Inc. (NYSE:T) by 2.2% in the third quarter, Holdings Channel reports. The firm owned 1,791,529 shares of the technology company’s stock after acquiring an additional 37,800 shares during the quarter. AT&T accounts for 0.9% of OLD National Bancorp IN’s holdings, making the stock its 19th biggest holding. OLD National Bancorp IN’s holdings in AT&T were worth $39,414,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter valued at about $30,000. Marquette Asset Management LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.6 %

Shares of T stock opened at $21.85 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a fifty day simple moving average of $20.95 and a two-hundred day simple moving average of $18.97. The firm has a market capitalization of $156.67 billion, a PE ratio of 11.75, a PEG ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.34.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have commented on T. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Evercore ISI raised their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.