Texas Permanent School Fund Lowers stake in AT&T (T)

AT&T (T) : Texas Permanent School Fund reduced its stake in AT&T by 2.22% during the most recent quarter end. The investment management company now holds a total of 2,121,066 shares of AT&T which is valued at $82,339,782 after selling 48,214 shares in AT&T , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.AT&T makes up approximately 1.04% of Texas Permanent School Fund’s portfolio.

AT&T opened for trading at $38.87 and hit $39.15 on the upside on Monday, eventually ending the session at $39.1, with a gain of 0.72% or 0.28 points. The heightened volatility saw the trading volume jump to 2,20,63,313 shares. Company has a market cap of $240,512 M.

Other Hedge Funds, Including , Torch Wealth Management added T to its portfolio by purchasing 35,099 company shares during the most recent quarter which is valued at $1,362,543. AT&T makes up approx 1.02% of Torch Wealth Management’s portfolio.Headinvest boosted its stake in T in the latest quarter, The investment management firm added 958 additional shares and now holds a total of 26,928 shares of AT&T which is valued at $1,025,149. AT&T makes up approx 0.40% of Headinvest’s portfolio.Hartford Financial Management boosted its stake in T in the latest quarter, The investment management firm added 2,160 additional shares and now holds a total of 54,505 shares of AT&T which is valued at $2,075,005. AT&T makes up approx 1.25% of Hartford Financial Management’s portfolio.

On the company’s financial health, AT&T reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.69. The company had revenue of $40535.00 million for the quarter, compared to analysts expectations of $40402.73 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on AT&T. Company shares were Reiterated by Nomura on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $39 .Company shares were Reiterated by Barclays on Apr 18, 2016 to “Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .AT&T was Initiated by Macquarie to “Outperform” on Apr 5, 2016.

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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