Central Pacific Bank Trust Division Decreases Position in AT&T Inc. (NYSE:T)

Central Pacific Bank Trust Division decreased its position in AT&T Inc. (NYSE:T) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,404 shares of the technology company’s stock after selling 469 shares during the period. Central Pacific Bank Trust Division’s holdings in AT&T were worth $214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in AT&T during the 3rd quarter valued at $35,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T during the third quarter worth $35,000. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter worth $30,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE:T opened at $22.67 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a market cap of $162.66 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The firm’s fifty day simple moving average is $22.82 and its 200 day simple moving average is $21.07.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.90%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.53.

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.