Joseph Group Capital Management Buys 22,772 Shares of AT&T Inc. $T

Joseph Group Capital Management lifted its stake in AT&T Inc. (NYSE:T) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,168 shares of the technology company’s stock after purchasing an additional 22,772 shares during the quarter. AT&T accounts for approximately 1.7% of Joseph Group Capital Management’s holdings, making the stock its 20th biggest position. Joseph Group Capital Management’s holdings in AT&T were worth $5,992,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC increased its stake in shares of AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden grew its holdings in AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after acquiring an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $489,000. Finally, Sentry Investment Management LLC raised its holdings in shares of AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.9%

NYSE:T opened at $24.19 on Friday. The stock’s 50 day moving average price is $24.92 and its 200 day moving average price is $26.81. The company has a market capitalization of $171.49 billion, a PE ratio of 7.85, a P/E/G ratio of 1.28 and a beta of 0.39. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

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, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada lowered their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Scotiabank restated a “sector perform” rating and set a $29.50 target price on shares of AT&T in a research note on Wednesday. Finally, Citigroup lowered their price target on AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.42.

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.