Commonwealth Bank of Australia grew its position in AT&T Inc. (NYSE:T) by 41.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,346,856 shares of the technology company’s stock after acquiring an additional 397,965 shares during the period. Commonwealth Bank of Australia’s holdings in AT&T were worth $42,869,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of T. Hanson & Doremus Investment Management raised its position in shares of AT&T by 24.3% during the 2nd quarter. Hanson & Doremus Investment Management now owns 81,694 shares of the technology company’s stock worth $2,623,000 after purchasing an additional 15,966 shares during the last quarter. Guardian Investment Management grew its stake in AT&T by 8.4% during the 2nd quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after acquiring an additional 11,054 shares in the last quarter. Ironsides Asset Advisors LLC grew its stake in AT&T by 450.8% during the 2nd quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock valued at $1,735,000 after acquiring an additional 44,231 shares in the last quarter. Whittier Trust Co. grew its stake in AT&T by 9.5% during the 2nd quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock valued at $14,859,000 after acquiring an additional 40,293 shares in the last quarter. Finally, BP PLC grew its stake in AT&T by 30.5% during the 2nd quarter. BP PLC now owns 914,826 shares of the technology company’s stock valued at $29,375,000 after acquiring an additional 213,826 shares in the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

AT&T stock opened at $30.73 on Thursday. AT&T Inc. has a 1-year low of $28.85 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $191.78 billion, a PE ratio of 10.08, a PEG ratio of 1.74 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The firm had revenue of $45.74 billion during the quarter, compared to analysts’ expectations of $45.73 billion. During the same period last year, the company earned $0.74 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.

Several analysts recently issued reports on T shares. UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Macquarie reaffirmed a “buy” rating and set a $35.00 price objective on shares of AT&T in a research note on Wednesday, September 12th. Bank of America set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Tigress Financial raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Finally, Argus reaffirmed a “buy” rating and set a $48.00 price objective on shares of AT&T in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.42.

In related news, Director Michael B. Mccallister acquired 4,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $29.14 per share, with a total value of $116,560.00. Following the transaction, the director now owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Commonwealth Bank of Australia Has $42.87 Million Holdings in AT&T Inc. (T)” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.watchlistnews.com/commonwealth-bank-of-australia-has-42-87-million-holdings-in-att-inc-t/2663855.html.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Featured Story: Reverse Stock Split

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.