Bangor Savings Bank buys $3.1 Million stake in AT&T (T)

AT&T (T) : Bangor Savings Bank scooped up 24,066 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 26, 2016. The investment management firm now holds a total of 79,353 shares of AT&T which is valued at $3.1 Million.AT&T makes up approximately 0.76% of Bangor Savings Bank’s portfolio.

Other Hedge Funds, Including , J.p. Marvel Investment Advisors boosted its stake in T in the latest quarter, The investment management firm added 60,690 additional shares and now holds a total of 129,010 shares of AT&T which is valued at $5 Million. AT&T makes up approx 1.73% of J.p. Marvel Investment Advisors’s portfolio. Highfields Capital Management Lp sold out all of its stake in T during the most recent quarter. The investment firm sold 987,630 shares of T which is valued $38 Million.Signaturefd boosted its stake in T in the latest quarter, The investment management firm added 2,615 additional shares and now holds a total of 44,932 shares of AT&T which is valued at $1.8 Million. AT&T makes up approx 0.30% of Signaturefd’s portfolio.King Luther Capital Management Corp boosted its stake in T in the latest quarter, The investment management firm added 8,490 additional shares and now holds a total of 1,324,091 shares of AT&T which is valued at $51.8 Million. AT&T makes up approx 0.51% of King Luther Capital Management Corp’s portfolio.

AT&T closed down -0.42 points or -1.07% at $38.73 with 1,70,55,682 shares getting traded on Wednesday. Post opening the session at $39.1, the shares hit an intraday low of $38.61 and an intraday high of $39.12 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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