Connor Clark & Lunn Investment Management Ltd. Takes Position in AT&T Inc. (NYSE:T)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 601,919 shares of the technology company’s stock, valued at approximately $13,706,000.

Several other institutional investors have also recently made changes to their positions in T. International Assets Investment Management LLC purchased a new position in AT&T in the fourth quarter valued at about $14,700,000. Swiss National Bank grew its stake in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its stake in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp grew its stake in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC grew its stake in AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of several analyst reports. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Trading Up 2.0 %

Shares of NYSE:T opened at $26.61 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The company has a market capitalization of $190.98 billion, a PE ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The business has a 50 day moving average of $24.66 and a two-hundred day moving average of $23.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

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.