AT&T Inc. (NYSE:T) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN lowered its stake in shares of AT&T Inc. (NYSE:T) by 73.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,314 shares of the technology company’s stock after selling 3,669 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in AT&T were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the 2nd quarter valued at approximately $30,000. Marquette Asset Management LLC bought a new position in AT&T during the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 1.7 %

Shares of T stock traded down $0.37 on Friday, hitting $21.83. The company had a trading volume of 26,050,390 shares, compared to its average volume of 35,713,988. The firm has a market cap of $156.52 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock’s 50-day moving average is $21.20 and its two-hundred day moving average is $19.12.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

About AT&T

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.