First Hawaiian Bank Grows Stake in AT&T Inc. (NYSE:T)

First Hawaiian Bank increased its stake in shares of AT&T Inc. (NYSE:T) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,702 shares of the technology company’s stock after buying an additional 4,874 shares during the quarter. First Hawaiian Bank’s holdings in AT&T were worth $2,689,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc boosted its position in shares of AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after purchasing an additional 598 shares during the period. Klingman & Associates LLC boosted its position in shares of AT&T by 3.1% during the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock worth $350,000 after purchasing an additional 603 shares during the period. Fortitude Family Office LLC boosted its position in shares of AT&T by 1.5% during the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after purchasing an additional 614 shares during the period. Connecticut Wealth Management LLC lifted its holdings in AT&T by 3.0% during the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after buying an additional 620 shares in the last quarter. Finally, AMG National Trust Bank lifted its holdings in AT&T by 1.0% during the 4th quarter. AMG National Trust Bank now owns 60,064 shares of the technology company’s stock worth $1,008,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on T shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Price Performance

Shares of T traded down $0.46 during mid-day trading on Monday, hitting $18.91. The company’s stock had a trading volume of 49,451,910 shares, compared to its average volume of 36,939,820. The firm has a 50-day moving average price of $18.49 and a 200 day moving average price of $17.57. AT&T Inc. has a fifty-two week low of $13.89 and a fifty-two week high of $19.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $135.59 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 3.28 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) 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 last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.