Joseph Group Capital Management Boosts Stock Position in AT&T Inc. $T

Joseph Group Capital Management boosted its stake in shares of AT&T Inc. (NYSE:T) by 12.0% in the third quarter, Holdings Channel reports. The fund owned 212,168 shares of the technology company’s stock after purchasing an additional 22,772 shares during the period. AT&T accounts for about 1.7% of Joseph Group Capital Management’s portfolio, making the stock its 20th biggest position. Joseph Group Capital Management’s holdings in AT&T were worth $5,992,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Front Row Advisors LLC purchased a new position in AT&T in the 2nd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the second quarter valued at about $26,000. Kennebec Savings Bank increased its stake in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Solstein Capital LLC increased its stake in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Finally, Curio Wealth LLC raised its holdings in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Arete Research set a $20.00 target price on shares of AT&T in a report on Tuesday. Williams Trading set a $33.00 price target on shares of AT&T in a research report on Thursday, October 23rd. Finally, Wolfe Research lowered AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $29.42.

AT&T Stock Performance

Shares of T opened at $24.19 on Friday. The company has a 50-day moving average of $24.92 and a two-hundred day moving average of $26.81. The stock has a market cap of $171.49 billion, a P/E ratio of 7.85, a PEG ratio of 1.28 and a beta of 0.39. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.