Connor Clark & Lunn Investment Management Ltd. boosted its position in AT&T Inc. (NYSE:T - Free Report) by 182.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,697,283 shares of the technology company's stock after purchasing an additional 1,095,364 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in AT&T were worth $47,999,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in T. Brighton Jones LLC grew its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after buying an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC purchased a new stake in AT&T in the 4th quarter valued at $213,000. FIL Ltd grew its holdings in AT&T by 6.7% in the 4th quarter. FIL Ltd now owns 46,158 shares of the technology company's stock valued at $1,051,000 after buying an additional 2,897 shares in the last quarter. F M Investments LLC grew its holdings in AT&T by 62.7% in the 4th quarter. F M Investments LLC now owns 15,798 shares of the technology company's stock valued at $360,000 after buying an additional 6,086 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in AT&T by 1.5% in the 4th quarter. Scotia Capital Inc. now owns 729,046 shares of the technology company's stock valued at $16,601,000 after buying an additional 10,547 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
AT&T Stock Up 0.1%
T stock traded up $0.02 during mid-day trading on Friday, reaching $28.08. The company had a trading volume of 23,594,470 shares, compared to its average volume of 34,716,284. 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 company has a market capitalization of $200.78 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. The firm has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $27.04. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19.
AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. AT&T's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is currently 63.07%.
Analysts Set New Price Targets
Several brokerages have issued reports on T. Raymond James Financial restated a "strong-buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, TD Securities increased their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.
View Our Latest Stock Analysis on AT&T
AT&T Company Profile
(
Free Report)
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.
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