OLD National Bancorp IN Has $49.56 Million Stock Position in AT&T Inc. (NYSE:T)

OLD National Bancorp IN reduced its position in shares of AT&T Inc. (NYSE:T) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,752,367 shares of the technology company’s stock after selling 21,231 shares during the period. AT&T makes up approximately 1.3% of OLD National Bancorp IN’s investment portfolio, making the stock its 12th biggest position. 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 have also added to or reduced their stakes in the company. Greenspring Advisors LLC acquired a new position in AT&T during the first quarter valued at approximately $205,000. Miracle Mile Advisors LLC increased its holdings in shares of AT&T by 8.2% during the first quarter. Miracle Mile Advisors LLC now owns 37,968 shares of the technology company’s stock worth $1,074,000 after buying an additional 2,890 shares in the last quarter. Charter Oak Capital Management LLC increased its holdings in shares of AT&T by 2.7% during the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after buying an additional 408 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after buying an additional 9,027 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of AT&T by 1.9% during the first quarter. UMB Bank n.a. now owns 179,776 shares of the technology company’s stock worth $5,084,000 after buying an additional 3,266 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on T shares. Wells Fargo & Company upped their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report 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 report on Thursday, February 13th. Barclays upped their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

Shares of AT&T stock opened at $28.09 on Friday. 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 business has a 50-day moving average price of $27.32 and a two-hundred day moving average price of $25.47. AT&T Inc. has a 1-year low of $17.42 and a 1-year high of $29.03. The company has a market cap of $202.12 billion, a P/E ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T’s payout ratio is 68.10%.

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.