AT&T Inc. (NYSE:T) Position Increased by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,753,729 shares of the technology company’s stock after purchasing an additional 26,044 shares during the period. AT&T comprises about 0.8% of OLD National Bancorp IN’s portfolio, making the stock its 20th largest holding. OLD National Bancorp IN’s holdings in AT&T were worth $33,514,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in AT&T in the 4th quarter valued at about $1,118,288,000. Thornburg Investment Management Inc. bought a new position in AT&T in the 4th quarter valued at about $316,472,000. Kodai Capital Management LP bought a new position in AT&T in the 4th quarter valued at about $152,109,000. Point72 Asset Management L.P. grew its position in AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after buying an additional 4,014,873 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on T. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Evercore ISI increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Up 0.5 %

Shares of NYSE T traded up $0.09 during mid-day trading on Friday, reaching $19.49. The company had a trading volume of 21,504,547 shares, compared to its average volume of 39,708,528. The stock has a fifty day moving average of $18.64 and a two-hundred day moving average of $17.63. 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 company has a market capitalization of $139.75 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 3.23 and a beta of 0.58. AT&T Inc. has a 12-month low of $13.92 and a 12-month high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is presently 59.68%.

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.