First Hawaiian Bank Reduces Position in AT&T Inc. (NYSE:T)

First Hawaiian Bank decreased its stake in shares of AT&T Inc. (NYSE:T) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 108,850 shares of the technology company’s stock after selling 3,101 shares during the quarter. First Hawaiian Bank’s holdings in AT&T were worth $1,736,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Steward Financial Group LLC boosted its holdings in shares of AT&T by 159.7% during the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after purchasing an additional 960 shares during the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of AT&T during the first quarter worth $31,000. Grey Fox Wealth Advisors LLC boosted its holdings in shares of AT&T by 41,000.0% during the first quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,640 shares during the last quarter. Sageworth Trust Co acquired a new stake in shares of AT&T during the first quarter worth $32,000. Finally, FWL Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Trading Up 1.1 %

NYSE:T opened at $15.23 on Friday. The business’s 50-day moving average is $14.47 and its two-hundred day moving average is $16.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $20.50. The firm has a market capitalization of $108.84 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The business had revenue of $29.92 billion for the quarter, compared to analysts’ expectations of $30.07 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 7.29%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is -90.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. StockNews.com began coverage on AT&T in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, August 29th. HSBC reduced their target price on AT&T from $21.00 to $19.00 in a report on Monday, June 5th. Deutsche Bank Aktiengesellschaft reduced their target price on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.