Huntington National Bank Lowers Stock Position in AT&T Inc. (NYSE:T)

Huntington National Bank cut its stake in shares of AT&T Inc. (NYSE:T) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,512 shares of the technology company’s stock after selling 3,144 shares during the period. Huntington National Bank’s holdings in AT&T were worth $10,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Paloma Partners Management Co lifted its position in shares of AT&T by 141.8% during the third quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company’s stock worth $683,000 after purchasing an additional 105,338 shares in the last quarter. Benjamin Edwards Inc. increased its stake in AT&T by 1,855.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company’s stock worth $2,042,000 after buying an additional 88,064 shares during the period. HighTower Advisors LLC lifted its holdings in AT&T by 9.2% during the 3rd quarter. HighTower Advisors LLC now owns 2,477,287 shares of the technology company’s stock worth $54,509,000 after buying an additional 208,775 shares in the last quarter. Janus Henderson Group PLC boosted its position in AT&T by 24.5% in the 3rd quarter. Janus Henderson Group PLC now owns 701,054 shares of the technology company’s stock valued at $15,413,000 after buying an additional 138,100 shares during the period. Finally, Pingora Partners LLC grew its stake in shares of AT&T by 1.4% in the third quarter. Pingora Partners LLC now owns 141,443 shares of the technology company’s stock worth $3,112,000 after acquiring an additional 2,000 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Price Performance

T stock opened at $28.13 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $201.92 billion, a P/E ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.56. The business has a 50 day simple moving average of $26.06 and a 200-day simple moving average of $23.67. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.61.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is presently 74.50%.

AT&T 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.