Metis Global Partners LLC Sells 33,449 Shares of AT&T Inc. (NYSE:T)

Metis Global Partners LLC cut its position in shares of AT&T Inc. (NYSE:T) by 11.2% in the fourth quarter, according to the company in its most recent filing 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 period. Metis Global Partners LLC’s holdings in AT&T were worth $4,444,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sora Investors LLC acquired a new position in AT&T during the 3rd quarter valued at about $11,265,000. Provence Wealth Management Group increased its stake in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after buying an additional 1,178 shares during the last quarter. Retireful LLC acquired a new position in shares of AT&T in the 4th quarter valued at $1,163,000. Finally, Brighton Jones LLC increased its position in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after acquiring an additional 5,161 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent research reports. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup raised their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

Shares of AT&T stock traded up $0.14 during trading hours on Monday, hitting $16.99. 23,343,746 shares of the company were exchanged, compared to its average volume of 38,930,539. The stock has a market capitalization of $121.82 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The business has a 50-day moving average of $16.97 and a 200-day moving average of $16.67.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.53%. 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.