Joseph Group Capital Management Boosts Stock Position in AT&T Inc. (NYSE:T)

Joseph Group Capital Management raised its position in AT&T Inc. (NYSE:T) by 4.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 186,976 shares of the technology company’s stock after buying an additional 7,991 shares during the quarter. AT&T comprises about 1.6% of Joseph Group Capital Management’s holdings, making the stock its 14th largest position. Joseph Group Capital Management’s holdings in AT&T were worth $4,113,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Socha Financial Group LLC lifted its position in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the last quarter. Essex Savings Bank boosted its position in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the period. Hayek Kallen Investment Management increased its stake in AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after buying an additional 513 shares during the period. Finally, Spinnaker Trust raised its holdings in AT&T by 0.4% during the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after buying an additional 515 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.4 %

AT&T stock opened at $22.99 on Tuesday. AT&T Inc. has a one year low of $15.85 and a one year high of $23.20. The company’s fifty day moving average price is $21.92 and its two-hundred day moving average price is $19.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market capitalization of $164.96 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

About AT&T

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.