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

OLD National Bancorp IN grew its holdings in shares of AT&T Inc. (NYSE:T) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,791,529 shares of the technology company’s stock after acquiring an additional 37,800 shares during the quarter. AT&T comprises 0.9% of OLD National Bancorp IN’s investment portfolio, making the stock its 19th largest position. OLD National Bancorp IN’s holdings in AT&T were worth $39,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake 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 worth $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its holdings in shares of 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 acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T in the 2nd quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on T. TD Cowen boosted their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Moffett Nathanson increased their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Barclays raised their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

Shares of T stock opened at $21.85 on Friday. The business’s fifty day moving average is $20.95 and its 200 day moving average is $18.97. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $156.67 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 3.63 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34.

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

AT&T Dividend Announcement

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

About AT&T

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.