Joseph Group Capital Management Increases Holdings in AT&T Inc. $T

Joseph Group Capital Management grew its holdings in AT&T Inc. (NYSE:T) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 189,396 shares of the technology company’s stock after buying an additional 7,722 shares during the quarter. AT&T makes up about 1.8% of Joseph Group Capital Management’s investment portfolio, making the stock its 18th largest holding. Joseph Group Capital Management’s holdings in AT&T were worth $5,481,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Ballentine Partners LLC raised its stake in AT&T by 10.0% in the first quarter. Ballentine Partners LLC now owns 98,072 shares of the technology company’s stock worth $2,773,000 after buying an additional 8,942 shares in the last quarter. Schechter Investment Advisors LLC lifted its holdings in AT&T by 31.0% in the first quarter. Schechter Investment Advisors LLC now owns 28,165 shares of the technology company’s stock worth $797,000 after buying an additional 6,667 shares during the period. Satovsky Asset Management LLC boosted its position in AT&T by 18.5% during the 1st quarter. Satovsky Asset Management LLC now owns 14,394 shares of the technology company’s stock valued at $407,000 after acquiring an additional 2,247 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of AT&T by 58.1% during the 1st quarter. Stephens Inc. AR now owns 765,118 shares of the technology company’s stock worth $21,638,000 after acquiring an additional 281,124 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.3%

Shares of AT&T stock opened at $24.81 on Monday. The company has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $27.63. The stock has a market capitalization of $175.85 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on T. TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.67.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.