Top 5 Dividend Stocks to Buy According to Peter S. Stamos’ Stamos Capital

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

Stamos Capital Partners’ Stake Value: $21,139,000
Dividend Yield as of June 14: 5.74%
Number of Hedge Fund Holders: 74

AT&T Inc. (NYSE:T) is the largest provider of mobile telephone services in the US and also offers media and communications services to its customers. On June 8, Morgan Stanley noted that the company’s strong balance sheet, free cash flow, and capital return could bring the stock a 20% upside in 2022. The firm lifted its price target on AT&T Inc. (NYSE:T) to $27.

In March 2022, AT&T Inc. (NYSE:T) announced a quarterly dividend of $0.28 per share, with an annual dividend of $1.11 per share, in line with the company’s previously declared dividend.

At the end of Q1 2022, AT&T Inc. (NYSE:T) was the largest holding of Stamos Capital as the hedge fund held 894,600 shares in the company, valued at over $21.1 million. The hedge fund has increased its position in the company by 58% during the quarter. AT&T Inc. (NYSE:T) accounted for 7.05% of Peter S. Stamos’ portfolio.

With stakes worth over $4 billion, 74 hedge funds tracked by Insider Monkey held positions in AT&T Inc. (NYSE:T) at the end of March 2022. In the previous quarter, 70 hedge funds held stakes in the Texas-based company, valued at roughly $5 billion. Arrowstreet Capital was the company’s largest shareholder in Q1 2022, with stakes worth over $678.5 million.

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).”

You can also take a look at 10 Stocks to Buy According to James Mitarotonda’s Barington Capital and 10 Best Affordable Dividend Stocks to Buy

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