Joseph Group Capital Management Sells 25,491 Shares of AT&T Inc. (NYSE:T)

Joseph Group Capital Management trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,674 shares of the technology company's stock after selling 25,491 shares during the period. AT&T makes up about 2.0% of Joseph Group Capital Management's portfolio, making the stock its 11th biggest position. Joseph Group Capital Management's holdings in AT&T were worth $5,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Next Level Private LLC increased its holdings in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. increased its holdings in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the period. Silver Oak Securities Incorporated increased its holdings in shares of AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after acquiring an additional 398 shares during the period. Finally, Firethorn Wealth Partners LLC increased its holdings in shares of AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after acquiring an additional 399 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on T shares. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial boosted their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.10.

AT&T Stock Performance

Shares of T stock opened at $27.61 on Friday. The stock has a market capitalization of $198.63 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 3.51 and a beta of 0.42. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The stock's 50-day moving average price is $27.84 and its 200 day moving average price is $26.27. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the company posted $0.55 EPS. AT&T's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast 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 Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 68.10%.

AT&T Profile

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.

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