Westpac Banking Corp Increases Holdings in AT&T Inc. (NYSE:T)

Westpac Banking Corp boosted its holdings in shares of AT&T Inc. (NYSE:T) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 852,265 shares of the technology company’s stock after purchasing an additional 58,197 shares during the period. Westpac Banking Corp’s holdings in AT&T were worth $28,559,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Horan Securities Inc. grew its holdings in shares of AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after acquiring an additional 830 shares during the period. Contravisory Investment Management Inc. grew its holdings in shares of AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after acquiring an additional 338 shares during the period. Smart Portfolios LLC grew its holdings in shares of AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares during the period. Centaurus Financial Inc. grew its holdings in shares of AT&T by 24.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after acquiring an additional 333 shares during the period. Finally, Interactive Financial Advisors purchased a new position in shares of AT&T during the 1st quarter worth approximately $56,000. Institutional investors own 53.05% of the company’s stock.

Several analysts recently weighed in on the company. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Desjardins restated an “average” rating and issued a $55.50 price target on shares of AT&T in a research note on Tuesday, August 6th. Raymond James upped their price target on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Cowen upped their price target on AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America restated a “buy” rating and issued a $37.00 price target on shares of AT&T in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.72.

In related news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Shares of AT&T stock traded up $0.63 during midday trading on Friday, hitting $34.97. The company had a trading volume of 30,889,700 shares, compared to its average volume of 34,488,428. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $250.92 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.15 and a beta of 0.62. The company has a 50 day moving average of $33.81 and a 200 day moving average of $31.88. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $35.00.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. Equities research analysts forecast that AT&T Inc. will post 3.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.51 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 annualized dividend and a yield of 5.83%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

About AT&T

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.

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

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