Huntington National Bank Sells 333,569 Shares of AT&T Inc. (NYSE:T)
Huntington National Bank decreased its position in shares of AT&T Inc. (NYSE:T) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 991,000 shares of the technology company’s stock after selling 333,569 shares during the period. Huntington National Bank’s holdings in AT&T were worth $29,958,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of T. Lion Street Advisors LLC acquired a new stake in shares of AT&T during the 1st quarter worth $27,000. Horan Securities Inc. acquired a new stake in shares of AT&T during the 1st quarter worth $28,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of AT&T by 186.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after purchasing an additional 623 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in AT&T in the first quarter valued at about $34,000. Finally, Efficient Wealth Management LLC acquired a new stake in AT&T in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.
AT&T stock traded up $0.01 during mid-day trading on Friday, reaching $29.58. The stock had a trading volume of 38,694,208 shares, compared to its average volume of 32,539,284. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The stock’s 50-day simple moving average is $30.01 and its 200-day simple moving average is $32.47. The firm has a market capitalization of $212.40 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 annualized dividend and a dividend yield of 7.03%. AT&T’s payout ratio is 58.26%.
In related news, Director Stephen J. Luczo bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.
Several analysts recently weighed in on the company. Scotiabank raised their price objective on AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. SunTrust Banks reduced their price objective on AT&T from $36.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Credit Suisse Group reduced their price objective on AT&T from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Wells Fargo & Co reduced their price objective on AT&T from $36.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, April 3rd. Finally, ValuEngine downgraded AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus target price of $35.29.
AT&T Company Profile
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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