Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in AT&T Inc. $T

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of AT&T Inc. (NYSE:T) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,725,831 shares of the technology company’s stock after purchasing an additional 28,548 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AT&T were worth $49,946,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in T. Denali Advisors LLC raised its stake in AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after acquiring an additional 22,394 shares during the last quarter. Tredje AP fonden raised its stake in shares of AT&T by 1.8% during the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after purchasing an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new position in AT&T in the 2nd quarter valued at $489,000. Finally, Sentry Investment Management LLC increased its stake in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $24.81 on Friday. The firm has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The business’s 50 day simple moving average is $27.14 and its 200-day simple moving average is $27.62. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada reduced their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Wells Fargo & Company dropped their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Williams Trading set a $33.00 price target on AT&T in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.67.

About AT&T

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.