Park National Corp OH Has $1.33 Million Stock Position in AT&T Inc. (NYSE:T)

Park National Corp OH lessened its holdings in AT&T Inc. (NYSE:T) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,772 shares of the technology company’s stock after selling 9,534 shares during the quarter. Park National Corp OH’s holdings in AT&T were worth $1,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rafferty Asset Management LLC lifted its holdings in shares of AT&T by 11.4% in the third quarter. Rafferty Asset Management LLC now owns 532,583 shares of the technology company’s stock valued at $7,999,000 after purchasing an additional 54,537 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of AT&T in the third quarter worth $8,538,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in AT&T by 280.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,332,383 shares of the technology company’s stock worth $20,012,000 after purchasing an additional 982,435 shares during the last quarter. FMR LLC lifted its position in AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after buying an additional 32,558,342 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AT&T by 9.0% during the 3rd quarter. Invesco Ltd. now owns 29,705,275 shares of the technology company’s stock worth $446,173,000 after buying an additional 2,447,279 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $18.07 on Wednesday. The company has a market capitalization of $129.56 billion, a PE ratio of 9.72, a P/E/G ratio of 3.47 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.45. The firm has a fifty day simple moving average of $17.22 and a 200 day simple moving average of $17.08.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.14%. AT&T’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, April 29th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

AT&T Company 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.