OLD National Bancorp IN Lowers Holdings in AT&T Inc. (NYSE:T)

OLD National Bancorp IN reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,752,367 shares of the technology company's stock after selling 21,231 shares during the period. AT&T accounts for 1.3% of OLD National Bancorp IN's portfolio, making the stock its 12th biggest holding. OLD National Bancorp IN's holdings in AT&T were worth $49,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $27,000. Marshall Investment Management LLC purchased a new position in AT&T in the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2%

Shares of NYSE T traded up $0.33 during trading hours on Friday, hitting $28.09. 22,394,187 shares of the company traded hands, compared to its average volume of 36,706,311. The stock has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. 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's 50 day moving average price is $27.32 and its 200 day moving average price is $25.47. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 net margin of 8.95% and a return on equity of 13.97%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on T shares. Royal Bank of Canada boosted their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. Finally, Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.71.

AT&T Company 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.