Clark Capital Management Group Inc. Acquires 22,951 Shares of AT&T Inc. (NYSE:T)

Clark Capital Management Group Inc. raised its stake in AT&T Inc. (NYSE:T) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,238,876 shares of the technology company’s stock after purchasing an additional 22,951 shares during the period. Clark Capital Management Group Inc.’s holdings in AT&T were worth $50,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. raised its position in AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after acquiring an additional 421 shares during the period. Tradewinds Capital Management LLC lifted its position in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. BNP Paribas boosted its position in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock valued at $942,000 after buying an additional 430 shares during the period. Whittier Trust Co. increased its stake in shares of AT&T by 0.7% in the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after buying an additional 433 shares during the period. Finally, Wealthstream Advisors Inc. boosted its position in AT&T by 3.7% during the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after buying an additional 444 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Barclays increased their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Trading Down 0.1 %

Shares of NYSE:T opened at $28.12 on Thursday. AT&T Inc. has a 1 year low of $17.00 and a 1 year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market capitalization of $202.35 billion, a P/E ratio of 18.87, a P/E/G ratio of 3.00 and a beta of 0.42. The business’s 50-day moving average is $27.12 and its 200 day moving average is $24.65.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T’s payout ratio is 68.10%.

AT&T Company Profile

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.