Metis Global Partners LLC Raises Stock Holdings in AT&T Inc. (NYSE:T)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc increased its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management lifted its stake in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after buying an additional 315,580 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $22.36 on Thursday. The firm’s fifty day simple moving average is $21.82 and its two-hundred day simple moving average is $19.65. AT&T Inc. has a 52-week low of $15.64 and a 52-week high of $22.73. The company has a market cap of $160.44 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.33 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:TGet Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the business posted $0.64 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. 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 dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on T shares. Oppenheimer upped their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Check Out Our Latest Research Report on AT&T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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