Central Pacific Bank Trust Division Purchases 12,830 Shares of AT&T Inc. $T

Central Pacific Bank Trust Division grew its stake in AT&T Inc. (NYSE:T) by 217.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,741 shares of the technology company’s stock after purchasing an additional 12,830 shares during the quarter. Central Pacific Bank Trust Division’s holdings in AT&T were worth $542,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. AllSquare Wealth Management LLC grew its holdings in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after acquiring an additional 378 shares in the last quarter. Next Level Private LLC grew its holdings in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after acquiring an additional 379 shares in the last quarter. Barnes Wealth Management Group Inc grew its holdings in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after acquiring an additional 380 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after acquiring an additional 384 shares in the last quarter. Finally, Kozak & Associates Inc. grew its holdings in shares of AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after acquiring an additional 398 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.3%

AT&T stock opened at $29.59 on Friday. The stock has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $27.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on T shares. Bank of America started coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. 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. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.