Huntington National Bank Has $12.65 Million Holdings in AT&T Inc. $T

Huntington National Bank cut its stake in shares of AT&T Inc. (NYSE:T) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after buying an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the second quarter worth $5,266,758,000. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after buying an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on T. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Barclays cut their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Performance

Shares of T opened at $24.42 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $174.58 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42. The firm’s fifty day simple moving average is $27.41 and its two-hundred day simple moving average is $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 issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

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.