Central Pacific Bank Trust Division Takes $165,000 Position in AT&T Inc. (NYSE:T)

Central Pacific Bank Trust Division bought a new position in AT&T Inc. (NYSE:T) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 9,404 shares of the technology company’s stock, valued at approximately $165,000.

A number of other institutional investors also recently bought and sold shares of T. Norges Bank bought a new stake in AT&T during the fourth quarter valued at about $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in AT&T during the fourth quarter valued at about $316,472,000. Kodai Capital Management LP bought a new stake in AT&T during the fourth quarter valued at about $152,109,000. Point72 Asset Management L.P. raised its holdings in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in AT&T by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.2 %

Shares of AT&T stock traded up $0.03 on Wednesday, hitting $18.55. 5,916,277 shares of the company traded hands, compared to its average volume of 36,260,055. The company has a market cap of $133.01 billion, a PE ratio of 9.97, a PEG ratio of 3.55 and a beta of 0.58. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $17.87 and its 200-day moving average price is $17.29.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of research firms have commented on T. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Oppenheimer reissued an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.81.

About AT&T

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.