Whittier Trust Co. of Nevada Inc. Has $2.59 Million Stock Position in AT&T Inc. $T

Whittier Trust Co. of Nevada Inc. cut its holdings in AT&T Inc. (NYSE:T) by 5.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,508 shares of the technology company’s stock after selling 5,589 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in AT&T were worth $2,589,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the second quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on T shares. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Stock Down 0.3%

Shares of NYSE T opened at $26.01 on Wednesday. The company has a 50 day simple moving average of $28.18 and a 200 day simple moving average of $27.78. The firm has a market cap of $185.98 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.