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

Joseph Group Capital Management grew its holdings in AT&T Inc. (NYSE:T) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,985 shares of the technology company’s stock after purchasing an additional 18,888 shares during the quarter. AT&T comprises 1.8% of Joseph Group Capital Management’s portfolio, making the stock its 12th biggest holding. Joseph Group Capital Management’s holdings in AT&T were worth $3,420,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Pineridge Advisors LLC bought a new stake in AT&T in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in AT&T in the fourth quarter worth about $25,000. American Capital Advisory LLC lifted its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on T shares. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Barclays boosted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.31.

AT&T Trading Down 1.7 %

Shares of NYSE T opened at $21.35 on Friday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm 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’s 50 day simple moving average is $19.82 and its 200 day simple moving average is $18.30.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the firm earned $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

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

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.