Whittier Trust Co. of Nevada Inc. Has $1.48 Million Stock Position in AT&T Inc. (NYSE:T)

Whittier Trust Co. of Nevada Inc. reduced its position in AT&T Inc. (NYSE:T) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 77,492 shares of the technology company’s stock after selling 2,661 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in AT&T were worth $1,481,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp lifted its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Norges Bank acquired a new stake in AT&T during the fourth quarter worth approximately $1,118,288,000. Charles Schwab Investment Management Inc. lifted its position in AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after acquiring an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after acquiring an additional 1,137,792 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Trading Down 0.3 %

T opened at $19.77 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $19.99. The firm has a market capitalization of $141.75 billion, a PE ratio of 10.63, a P/E/G ratio of 3.26 and a beta of 0.58. The company’s 50-day moving average is $19.07 and its 200 day moving average is $17.85.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

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.