Metis Global Partners LLC Has $5.59 Million Stock Holdings in AT&T Inc. (NYSE:T)

Metis Global Partners LLC increased its position in shares of AT&T Inc. (NYSE:T) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,212 shares of the technology company’s stock after acquiring an additional 5,335 shares during the quarter. Metis Global Partners LLC’s holdings in AT&T were worth $5,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its holdings 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 acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the second quarter worth about $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T during the third quarter worth about $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on T. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Evercore ISI lifted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Oppenheimer lifted their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

T stock opened at $22.36 on Thursday. The firm has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $19.65. 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 stock has a market cap of $160.44 billion, a PE ratio of 18.13, a P/E/G ratio of 3.33 and a beta of 0.59. AT&T Inc. has a one year low of $15.64 and a one year high of $22.73.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.