Metis Global Partners LLC Reduces Position in AT&T Inc. (NYSE:T)

Metis Global Partners LLC decreased its position in AT&T Inc. (NYSE:T) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,849 shares of the technology company’s stock after selling 33,449 shares during the quarter. Metis Global Partners LLC’s holdings in AT&T were worth $4,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concord Wealth Partners boosted its stake in AT&T by 41.3% during the third quarter. Concord Wealth Partners now owns 17,955 shares of the technology company’s stock worth $270,000 after acquiring an additional 5,246 shares in the last quarter. Lindbrook Capital LLC raised its stake in AT&T by 21.0% during the third quarter. Lindbrook Capital LLC now owns 35,817 shares of the technology company’s stock valued at $538,000 after buying an additional 6,213 shares during the last quarter. BluePath Capital Management LLC bought a new stake in AT&T in the third quarter worth $136,000. Mackenzie Financial Corp raised its position in shares of AT&T by 12.9% in the 3rd quarter. Mackenzie Financial Corp now owns 2,577,352 shares of the technology company’s stock worth $38,093,000 after purchasing an additional 294,986 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in AT&T by 40.6% during the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 45,837 shares of the technology company’s stock valued at $688,000 after purchasing an additional 13,243 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

AT&T stock traded up $0.14 during midday trading on Monday, reaching $16.99. 23,343,746 shares of the stock traded hands, compared to its average volume of 38,930,539. The stock has a market cap of $121.82 billion, a P/E ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57. The stock’s fifty day moving average is $16.97 and its 200-day moving average is $16.67. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.53%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is 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.