Clint Carlson’s Carlson Capital Portfolio: 5 Dividend Stock Picks

1. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 74
Dividend Yield as of May 29: 5.21%
Carlson Capital’s Stake Value: $14,655,000

Though AT&T Inc. (NYSE:T) surpassed analysts’ estimates in its subscribers’ growth in the first quarter of 2022, its revenue of $38.1 billion missed the market estimates by $190 million. However, the telecommunications company reported a 5% year-over-year growth in its services revenue at $14.7 billion, driven by subscribers’ growth.

In March, AT&T Inc. (NYSE:T) announced a quarterly dividend of $0.2775 per share, after it acquired a position in Warner Bros. Discovery. The company maintains a 35-year track record of consistent dividend growth. As of the close of May 29, the stock’s dividend yield was recorded at 5.21%.

At the end of Q1 2022, 74 hedge funds tracked by Insider Monkey were bullish on AT&T Inc. (NYSE:T), up from 70 in the previous quarter. The collective value of these stakes is over $4 billion. With a stake worth over $678.5 million, Arrowstreet Capital owned the largest position in the Texas-based company in Q1 2022.

In April, Goldman Sachs initiated its coverage on AT&T Inc. (NYSE:T) with a $23 price target and a Buy rating on the shares, highlighting the company’s communications-focused business model.

At the end of Q1 2022, Carlson Capital owned a stake worth over $14.6 million in AT&T Inc. (NYSE:T), after purchasing roughly half a million additional shares in the company during the quarter. The company accounted for 1% of Clint Carlson’s portfolio.

Weitz Investment Management mentioned AT&T Inc. (NYSE:T) in its Q4 2021 investor letter. Here is what the firm has to say:

“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”

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