Beacon Financial Group buys $2 Million stake in AT&T (T)

AT&T (T) : Beacon Financial Group scooped up 4,152 additional shares in AT&T during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 50,592 shares of AT&T which is valued at $2 Million.AT&T makes up approximately 0.43% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group added T to its portfolio by purchasing 63,595 company shares during the most recent quarter which is valued at $2.5 Million. AT&T makes up approx 1.24% of Renaissance Investment Group’s portfolio.

On the company’s financial health, AT&T reported $0.63 EPS for the quarter, based on the information available during the earnings call on Jan 26, 2016. Analyst had a consensus estimate of $0.63. The company had revenue of $42100.00 million for the quarter, compared to analysts expectations of $42719.73 million. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on AT&T. AT&T was Initiated by Macquarie to “Outperform” on Apr 5, 2016. Company shares were Reiterated by Deutsche Bank on Mar 22, 2016 to “Buy”, Firm has raised the Price Target to $ 41 from a previous price target of $40 .Deutsche Bank Initiated AT&T on Feb 24, 2016 to “Buy”, Price Target of the shares are set at $40.

AT&T closed down -0.11 points or -0.29% at $38.39 with 1,77,20,618 shares getting traded on Monday. Post opening the session at $38.67, the shares hit an intraday low of $38.33 and an intraday high of $38.685 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

AT&T Inc. is a holding company. The Company provides telecommunications services. Its services and products include wireless communications data/broadband and Internet services video services local exchange services long-distance services telecommunications equipment managed networking and wholesale services. Its segments include Wireless Wireline and International. Its wireless subsidiaries provide both wireless voice and data communication services. The wireline subsidiaries provide landline data and voice communication services AT&T U-verse broadband video and voice services (U-verse) and managed networking. Its International segment uses the Iusacell and Unefon regional and national networks to provide wireless data and voice communication services. Its International segment also utilizes the networks of Nextel Mexico to provide similar services. Through its subsidiary DIRECTV Group Holdings LLC it provides pay television in the United States and across the world.

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