Westpac Banking Corp Invests $836,000 in AT&T Inc. $T

Westpac Banking Corp bought a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,375 shares of the technology company’s stock, valued at approximately $836,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in AT&T by 2.6% during the fourth quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock valued at $8,249,109,000 after purchasing an additional 8,314,678 shares during the period. Bank of America Corp DE boosted its holdings in shares of AT&T by 4.6% in the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock worth $3,629,307,000 after purchasing an additional 5,449,222 shares during the period. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth approximately $2,181,977,000. Bank of New York Mellon Corp increased its position in shares of AT&T by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company’s stock valued at $1,559,198,000 after purchasing an additional 2,559,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AT&T by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,600,464 shares of the technology company’s stock valued at $1,281,756,000 after purchasing an additional 225,708 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Argus lowered their price target on AT&T from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Scotiabank cut their price objective on shares of AT&T from $31.00 to $29.25 and set a “sector perform” rating on the stock in a research report on Wednesday, July 15th. TD Cowen boosted their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group set a $30.00 target price on shares of AT&T in a research note on Wednesday, July 22nd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $25.00 target price on shares of AT&T in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

AT&T Trading Up 1.6%

T opened at $25.70 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The stock’s 50 day moving average price is $22.88 and its 200-day moving average price is $25.26. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79. The stock has a market cap of $176.13 billion, a price-to-earnings ratio of 8.51, a P/E/G ratio of 1.03 and a beta of 0.23.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $31.80 billion. During the same period last year, the company earned $0.54 EPS. AT&T’s quarterly revenue was up 2.3% compared to the same quarter last year. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.34 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is presently 36.75%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.