Bank of Hawaii Lowers Holdings in AT&T Inc. (NYSE:T)

Bank of Hawaii reduced its position in shares of AT&T Inc. (NYSE:T) by 7.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 139,319 shares of the technology company’s stock after selling 11,515 shares during the period. Bank of Hawaii’s holdings in AT&T were worth $3,972,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its holdings in AT&T by 102.9% in the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after purchasing an additional 25,658,276 shares in the last quarter. Laidlaw Wealth Management LLC increased its holdings in shares of AT&T by 6,014.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock worth $160,000 after buying an additional 4,754,142 shares during the last quarter. LSV Asset Management increased its holdings in shares of AT&T by 14.8% during the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock worth $843,455,000 after buying an additional 3,606,476 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of AT&T by 192.3% during the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock worth $163,594,000 after buying an additional 3,560,031 shares during the last quarter. Finally, Newport Trust Co boosted its position in AT&T by 1.7% during the 2nd quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock worth $6,075,279,000 after purchasing an additional 3,397,127 shares during the period. Hedge funds and other institutional investors own 52.29% of the company’s stock.

Shares of NYSE:T traded down $0.20 during trading hours on Monday, hitting $28.83. The stock had a trading volume of 198,068 shares, compared to its average volume of 39,172,031. The stock’s fifty day simple moving average is $27.91 and its 200 day simple moving average is $29.33. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $39.55. The firm has a market capitalization of $206.87 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81.

AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $42.43 billion during the quarter, compared to analyst estimates of $41.66 billion. During the same quarter in the previous year, the business posted $0.94 EPS. AT&T’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 3.2 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a $0.52 dividend. The ex-dividend date was Thursday, October 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.21%. AT&T’s payout ratio is currently 58.26%.

A number of brokerages recently weighed in on T. Scotiabank cut shares of AT&T from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the stock from $34.00 to $30.00 in a research report on Monday, August 31st. KeyCorp cut shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Monday, October 5th. Oppenheimer reissued a “buy” rating and issued a $38.00 price objective on shares of AT&T in a research report on Thursday, October 1st. Wolfe Research initiated coverage on shares of AT&T in a research report on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price objective for the company. Finally, Credit Suisse Group decreased their price objective on shares of AT&T from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $32.50.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Further Reading: G-20

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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