Horizon Bancorp Inc. IN Has $29,000 Stock Position in AT&T Inc. (NYSE:T)

Horizon Bancorp Inc. IN trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 73.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,314 shares of the technology company’s stock after selling 3,669 shares during the period. 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors increased its stake in AT&T by 1.9% during the third quarter. Arkadios Wealth Advisors now owns 71,192 shares of the technology company’s stock valued at $1,566,000 after acquiring an additional 1,294 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in shares of AT&T by 44.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 74,752 shares of the technology company’s stock worth $1,645,000 after purchasing an additional 23,098 shares during the last quarter. Sageworth Trust Co bought a new stake in AT&T during the third quarter worth about $203,000. Forsta AP Fonden increased its holdings in AT&T by 7.4% during the 3rd quarter. Forsta AP Fonden now owns 2,157,800 shares of the technology company’s stock valued at $47,472,000 after purchasing an additional 148,800 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AT&T by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 476,079 shares of the technology company’s stock valued at $10,393,000 after buying an additional 85,699 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.7 %

T traded down $0.37 during trading on Friday, reaching $21.83. The company had a trading volume of 26,050,390 shares, compared to its average volume of 35,713,988. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.58. The stock has a market cap of $156.52 billion, a P/E ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The business has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $19.12.

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

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on T. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday. Finally, Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target 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.