Huntington National Bank Sells 10,655 Shares of AT&T Inc. $T

Huntington National Bank trimmed its position in AT&T Inc. (NYSE:T) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,094 shares of the technology company’s stock after selling 10,655 shares during the period. Huntington National Bank’s holdings in AT&T were worth $12,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC bought a new position in AT&T in the 1st quarter valued at about $1,072,128,000. GQG Partners LLC lifted its position in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

T stock opened at $24.42 on Wednesday. The firm has a market cap of $174.58 billion, a PE ratio of 7.93, a P/E/G ratio of 2.16 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $27.41 and a 200-day moving average of $27.67. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Wells Fargo & Company dropped their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.67.

About AT&T

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.