AT&T Inc. (NYSE:T) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its position in shares of AT&T Inc. (NYSE:T) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,773,598 shares of the technology company’s stock after selling 17,931 shares during the quarter. AT&T accounts for 1.0% of OLD National Bancorp IN’s holdings, making the stock its 17th largest holding. OLD National Bancorp IN’s holdings in AT&T were worth $40,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. FMR LLC lifted its holdings in shares of AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Swiss National Bank boosted its position in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after purchasing an additional 1,206,330 shares during the period. Finally, National Pension Service increased its position in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday. Royal Bank of Canada boosted their price target on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, UBS Group raised their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T Stock Down 0.7 %

T stock opened at $24.23 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a 50 day simple moving average of $22.86 and a 200-day simple moving average of $21.55. The company has a market capitalization of $173.89 billion, a P/E ratio of 19.70, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.