Joseph Group Capital Management Purchases 18,888 Shares of AT&T Inc. (NYSE:T)

Joseph Group Capital Management raised its holdings in shares of AT&T Inc. (NYSE:T) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 178,985 shares of the technology company’s stock after buying an additional 18,888 shares during the period. AT&T makes up approximately 1.8% of Joseph Group Capital Management’s portfolio, making the stock its 12th largest position. Joseph Group Capital Management’s holdings in AT&T were worth $3,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Advisors of Tampa Bay LLC raised its holdings in AT&T by 5.7% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 190,890 shares of the technology company’s stock worth $3,648,000 after acquiring an additional 10,240 shares in the last quarter. Trust Investment Advisors increased its position in shares of AT&T by 51.4% during the 2nd quarter. Trust Investment Advisors now owns 48,856 shares of the technology company’s stock worth $934,000 after purchasing an additional 16,585 shares during the last quarter. Ieq Capital LLC raised its stake in shares of AT&T by 30.9% during the 2nd quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after purchasing an additional 74,764 shares in the last quarter. Cowa LLC boosted its holdings in shares of AT&T by 70.9% in the 2nd quarter. Cowa LLC now owns 45,760 shares of the technology company’s stock valued at $874,000 after buying an additional 18,977 shares during the last quarter. Finally, Leuthold Group LLC bought a new position in shares of AT&T in the second quarter valued at $3,769,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T opened at $21.35 on Friday. The firm has a 50-day moving average price of $19.82 and a two-hundred day moving average price of $18.30. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34. The company has a market capitalization of $153.08 billion, a P/E ratio of 11.48, a P/E/G ratio of 3.79 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. Analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Oppenheimer upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.31.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.