Pax World Management buys $33.1 Million stake in AT&T (T)

AT&T (T) : Pax World Management scooped up 142,774 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 845,418 shares of AT&T which is valued at $33.1 Million.AT&T makes up approximately 1.79% of Pax World Management’s portfolio.

Other Hedge Funds, Including , Chartwell Investment Partners boosted its stake in T in the latest quarter, The investment management firm added 119,964 additional shares and now holds a total of 427,827 shares of AT&T which is valued at $16.7 Million. AT&T makes up approx 0.33% of Chartwell Investment Partners’s portfolio.Samsung Asset Management (new York) reduced its stake in T by selling 50,560 shares or 61.01% in the most recent quarter. The Hedge Fund company now holds 32,310 shares of T which is valued at $1.3 Million. AT&T makes up approx 0.58% of Samsung Asset Management (new York)’s portfolio.Liberty Mutual Group Asset Management boosted its stake in T in the latest quarter, The investment management firm added 34,626 additional shares and now holds a total of 399,620 shares of AT&T which is valued at $15.6 Million. AT&T makes up approx 0.65% of Liberty Mutual Group Asset Management’s portfolio.Strategy Asset Managers boosted its stake in T in the latest quarter, The investment management firm added 2,907 additional shares and now holds a total of 26,839 shares of AT&T which is valued at $1 Million. AT&T makes up approx 0.23% of Strategy Asset Managers’s portfolio.Douglass Winthrop Advisors reduced its stake in T by selling 89,821 shares or 19.73% in the most recent quarter. The Hedge Fund company now holds 365,425 shares of T which is valued at $14.2 Million. AT&T makes up approx 1.01% of Douglass Winthrop Advisors’s portfolio.

AT&T opened for trading at $38.95 and hit $39.2988 on the upside on Monday, eventually ending the session at $39.28, with a gain of 0.33% or 0.13 points. The heightened volatility saw the trading volume jump to 1,50,57,768 shares. Company has a market cap of $241,808 M.

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 DA Davidson on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .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 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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