Huntington National Bank Sells 15,345 Shares of AT&T Inc. (NYSE:T)

Huntington National Bank decreased its position in shares of AT&T Inc. (NYSE:T) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 453,656 shares of the technology company’s stock after selling 15,345 shares during the period. Huntington National Bank’s holdings in AT&T were worth $9,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its position in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $35,000. Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter worth about $30,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T during the third quarter worth about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $22.25 on Friday. The stock has a market cap of $159.61 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.64 and a twelve month high of $22.73. The company’s fifty day moving average is $21.82 and its 200 day moving average is $19.65.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.99%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Oppenheimer lifted their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Profile

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.