First Hawaiian Bank Has $220,000 Stake in AT&T Inc. $T

Key Points

• First Hawaiian Bank reduced its AT&T holdings by 94.4% in Q1, ending with a stake valued at $220,000 after selling over 131,000 shares.
• AT&T reported $30.85 billion in revenue for the last quarter, exceeding estimates and showing a 3.4% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.2775 per share, yielding 3.7% annually, with a payout ratio of 63.07%.

First Hawaiian Bank trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 94.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,797 shares of the technology company's stock after selling 131,620 shares during the period. First Hawaiian Bank's holdings in AT&T were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CBIZ Investment Advisory Services LLC lifted its position in shares of AT&T by 12.6% in the first quarter. CBIZ Investment Advisory Services LLC now owns 3,982 shares of the technology company's stock valued at $113,000 after buying an additional 446 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of AT&T by 12.5% in the first quarter. Modern Wealth Management LLC now owns 83,683 shares of the technology company's stock valued at $2,367,000 after buying an additional 9,316 shares during the last quarter. Strs Ohio acquired a new stake in shares of AT&T in the first quarter valued at approximately $61,020,000. Ellsworth Advisors LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $6,569,000. Finally, Wealth Management Associates Inc. lifted its holdings in AT&T by 0.8% during the 1st quarter. Wealth Management Associates Inc. now owns 226,046 shares of the technology company's stock worth $6,393,000 after purchasing an additional 1,741 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T opened at $29.66 on Tuesday. The stock has a market capitalization of $212.08 billion, a PE ratio of 16.85, a P/E/G ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business has a fifty day moving average price of $28.33 and a two-hundred day moving average price of $27.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the company posted $0.51 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

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.

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