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

OLD National Bancorp IN decreased its position in AT&T Inc. (NYSE:T) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,752,367 shares of the technology company’s stock after selling 21,231 shares during the period. AT&T accounts for 1.3% of OLD National Bancorp IN’s investment portfolio, making the stock its 12th biggest holding. OLD National Bancorp IN’s holdings in AT&T were worth $49,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC increased its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.2%

T opened at $28.09 on Friday. The company has a fifty day moving average price of $27.32 and a 200-day moving average price of $25.47. The firm has a market capitalization of $202.12 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Company 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.