Octavia Wealth Advisors LLC Acquires 1,019 Shares of AT&T Inc. (NYSE:T)

Octavia Wealth Advisors LLC grew its holdings in AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,571 shares of the technology company’s stock after purchasing an additional 1,019 shares during the period. Octavia Wealth Advisors LLC’s holdings in AT&T were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Carmel Capital Partners LLC grew its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton bought a new stake in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T in the third quarter worth $30,000. FWL Investment Management LLC purchased a new position in AT&T during the fourth quarter valued at $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the fourth quarter valued at $34,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.9 %

Shares of NYSE T opened at $16.09 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The business’s 50 day moving average price is $17.04 and its 200-day moving average price is $16.48. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.92. The company has a market cap of $115.09 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 2.45 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.90%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. Tigress Financial lifted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $20.68.

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.