1ST Source Bank Sells 1,208 Shares of AT&T Inc. (T)
1ST Source Bank lowered its holdings in AT&T Inc. (NYSE:T) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,673 shares of the technology company’s stock after selling 1,208 shares during the period. AT&T makes up 0.6% of 1ST Source Bank’s portfolio, making the stock its 27th biggest position. 1ST Source Bank’s holdings in AT&T were worth $6,893,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in T. Schwab Charles Investment Management Inc. boosted its stake in AT&T by 4.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after acquiring an additional 985,330 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in AT&T by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock valued at $744,385,000 after purchasing an additional 143,884 shares during the last quarter. APG Asset Management N.V. lifted its position in AT&T by 7.1% in the 2nd quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock valued at $638,314,000 after purchasing an additional 1,117,300 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in AT&T by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,314,812 shares of the technology company’s stock valued at $345,245,000 after purchasing an additional 62,384 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its position in AT&T by 11.0% in the 1st quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock valued at $251,456,000 after purchasing an additional 597,735 shares during the last quarter. 54.99% of the stock is owned by institutional investors.
AT&T Inc. (NYSE T) opened at 38.59 on Friday. The company has a market capitalization of $236.94 billion, a PE ratio of 18.13 and a beta of 0.49. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03. The stock’s 50 day moving average is $37.82 and its 200 day moving average is $38.56. AT&T also was the recipient of some unusual options trading on Thursday. Stock traders bought 294,492 call options on the stock. This represents an increase of approximately 654% compared to the average daily volume of 39,059 call options.
AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts predict that AT&T Inc. will post $2.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio is 92.45%.
Several analysts recently weighed in on the stock. Macquarie reiterated a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report on Friday, September 1st. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 target price on the stock in a research note on Thursday, September 28th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 price objective (down previously from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of AT&T in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the company. AT&T has a consensus rating of “Hold” and a consensus price target of $43.87.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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