1ST Source Bank Has $726,000 Stock Position in AT&T Inc. (NYSE:T)

1ST Source Bank lifted its holdings in AT&T Inc. (NYSE:T) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,974 shares of the technology company’s stock after purchasing an additional 741 shares during the period. 1ST Source Bank’s holdings in AT&T were worth $726,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of T. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the 4th quarter worth $25,000. Strategic Financial Concepts LLC boosted its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its position in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $22.31.

AT&T Stock Performance

Shares of NYSE:T opened at $21.64 on Friday. The stock has a market capitalization of $155.16 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. The business’s fifty day moving average price is $19.59 and its two-hundred day moving average price is $18.18. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.86. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

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.