Octavia Wealth Advisors LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

Octavia Wealth Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,778 shares of the technology company’s stock after selling 1,751 shares during the period. Octavia Wealth Advisors LLC’s holdings in AT&T were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in AT&T during the fourth quarter valued at approximately $96,000. Appleton Partners Inc. MA boosted its holdings in AT&T by 42.7% in the 4th quarter. Appleton Partners Inc. MA now owns 18,278 shares of the technology company’s stock worth $416,000 after buying an additional 5,468 shares during the period. Vest Financial LLC grew its position in shares of AT&T by 20.3% during the fourth quarter. Vest Financial LLC now owns 80,656 shares of the technology company’s stock worth $1,837,000 after purchasing an additional 13,611 shares in the last quarter. Finally, Seelaus Asset Management LLC grew its stake in AT&T by 9.3% during the fourth quarter. Seelaus Asset Management LLC now owns 34,922 shares of the technology company’s stock valued at $795,000 after acquiring an additional 2,975 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on T. Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer boosted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company increased their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Stock Up 1.2%

Shares of NYSE:T opened at $28.09 on Monday. The company has a market capitalization of $202.12 billion, a PE ratio of 18.85, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03. The company’s fifty day moving average is $27.32 and its 200-day moving average is $25.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.