Horizon Bancorp Inc. IN Sells 2,185 Shares of AT&T Inc. (NYSE:T)

Horizon Bancorp Inc. IN lessened its position in AT&T Inc. (NYSE:T) by 24.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,617 shares of the technology company’s stock after selling 2,185 shares during the period. Horizon Bancorp Inc. IN’s holdings in AT&T were worth $116,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc grew its position in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. JB Capital LLC increased its position in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the period. Fortitude Family Office LLC raised its stake in AT&T by 1.5% in the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after purchasing an additional 614 shares in the last quarter. Finally, Connecticut Wealth Management LLC raised its stake in AT&T by 3.0% in the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after purchasing an additional 620 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.7 %

Shares of NYSE:T traded down $0.14 during midday trading on Thursday, hitting $18.68. 19,462,997 shares of the stock were exchanged, compared to its average volume of 33,098,884. The business’s 50-day moving average price is $17.71 and its 200 day moving average price is $17.22. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market capitalization of $133.94 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 4.27 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.94%. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

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.