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

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 & Exchange Commission. The institutional investor owned 1,753,729 shares of the technology company’s stock after buying an additional 26,044 shares during the quarter. AT&T comprises about 0.8% of OLD National Bancorp IN’s holdings, making the stock its 20th largest position. OLD National Bancorp IN’s holdings in AT&T were worth $33,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Norges Bank purchased a new position in AT&T during the fourth quarter worth about $1,118,288,000. Thornburg Investment Management Inc. purchased a new position in AT&T during the fourth quarter worth about $316,472,000. Kodai Capital Management LP purchased a new position in shares of AT&T in the 4th quarter worth about $152,109,000. Point72 Asset Management L.P. boosted its holdings in shares of 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 worth $152,477,000 after purchasing an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays upped their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Evercore ISI boosted their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

AT&T Trading Up 0.5 %

Shares of T traded up $0.09 during mid-day trading on Friday, reaching $19.49. 21,504,547 shares of the company’s stock traded hands, compared to its average volume of 39,708,528. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market cap of $139.75 billion, a P/E ratio of 10.48, a P/E/G ratio of 3.23 and a beta of 0.58. The stock’s 50-day moving average is $18.64 and its two-hundred day moving average is $17.63. AT&T Inc. has a 12 month low of $13.92 and a 12 month high of $19.99.

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

AT&T Dividend Announcement

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