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

Joseph Group Capital Management cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 12.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,674 shares of the technology company's stock after selling 25,491 shares during the quarter. AT&T accounts for 2.0% of Joseph Group Capital Management's portfolio, making the stock its 11th biggest holding. Joseph Group Capital Management's holdings in AT&T were worth $5,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in AT&T in the fourth quarter worth $27,000. Core Alternative Capital increased its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new stake in AT&T in the 4th quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T traded down $0.65 on Friday, hitting $26.97. The company's stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. The company has a 50-day simple moving average of $27.84 and a 200 day simple moving average of $26.27. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company has a market capitalization of $194.07 billion, a PE ratio of 16.55, a PEG ratio of 3.45 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the company earned $0.55 EPS. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on T. Barclays increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.12.

AT&T Company 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.