Indiana Trust & Investment Management CO lifted its holdings in shares of AT&T Inc. (NYSE:T) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,403 shares of the technology company’s stock after acquiring an additional 1,558 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in AT&T were worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Polaris Greystone Financial Group LLC boosted its stake in AT&T by 8.1% in the 2nd quarter. Polaris Greystone Financial Group LLC now owns 26,964 shares of the technology company’s stock valued at $806,000 after purchasing an additional 2,018 shares during the period. Dfpg Investments LLC boosted its stake in AT&T by 3.3% in the 2nd quarter. Dfpg Investments LLC now owns 30,494 shares of the technology company’s stock valued at $925,000 after purchasing an additional 973 shares during the period. Teamwork Financial Advisors LLC boosted its stake in AT&T by 110.8% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 38,799 shares of the technology company’s stock valued at $1,173,000 after purchasing an additional 20,394 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its stake in AT&T by 12.8% in the 2nd quarter. Strategic Family Wealth Counselors L.L.C. now owns 19,093 shares of the technology company’s stock valued at $577,000 after purchasing an additional 2,172 shares during the period. Finally, Manchester Financial Inc. boosted its stake in AT&T by 32.2% in the 2nd quarter. Manchester Financial Inc. now owns 12,552 shares of the technology company’s stock valued at $379,000 after purchasing an additional 3,060 shares during the period. Institutional investors own 53.74% of the company’s stock.

T has been the subject of a number of recent analyst reports. Nomura cut their target price on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. downgraded AT&T from an “overweight” rating to a “neutral” rating and cut their target price for the company from $38.00 to $35.00 in a research report on Wednesday, April 1st. Morgan Stanley cut their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. ValuEngine downgraded AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Cowen downgraded AT&T from an “outperform” rating to a “market perform” rating and cut their target price for the company from $43.00 to $37.00 in a research report on Monday, March 23rd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.94.

In related news, Director Stephen J. Luczo purchased 36,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was purchased at an average cost of $29.38 per share, with a total value of $1,057,680.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey Y. Yang purchased 6,754 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $29.39 per share, with a total value of $198,500.06. Following the completion of the acquisition, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

Shares of AT&T stock traded up $0.26 on Tuesday, hitting $30.02. 556,976 shares of the company’s stock traded hands, compared to its average volume of 39,514,864. The company has a fifty day moving average of $30.61 and a two-hundred day moving average of $33.30. The company has a market capitalization of $213.84 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.71 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.76 and a quick ratio of 0.76. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $42.78 billion during the quarter, compared to the consensus estimate of $44.75 billion. AT&T had a return on equity of 13.27% and a net margin of 8.05%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. Equities research analysts anticipate that AT&T Inc. will post 3.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s dividend payout ratio is currently 58.26%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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