British Columbia Investment Management Corp buys $122,030,566 stake in AT&T (T)

AT&T (T) : British Columbia Investment Management Corp scooped up 14,706 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 8, 2016. The investment management firm now holds a total of 2,863,895 shares of AT&T which is valued at $122,030,566.AT&T makes up approximately 1.05% of British Columbia Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Macnealy Hoover Investment Management Inc reduced its stake in T by selling 810 shares or 3.34% in the most recent quarter. The Hedge Fund company now holds 23,446 shares of T which is valued at $999,034. AT&T makes up approx 0.19% of Macnealy Hoover Investment Management Inc’s portfolio.Lifeplan Financial Group Inc boosted its stake in T in the latest quarter, The investment management firm added 3,144 additional shares and now holds a total of 12,524 shares of AT&T which is valued at $533,648. AT&T makes up approx 0.36% of Lifeplan Financial Group Inc’s portfolio.Nadler Financial Group boosted its stake in T in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 14,085 shares of AT&T which is valued at $600,162. AT&T makes up approx 0.25% of Nadler Financial Group’s portfolio.Ckw Financial Group boosted its stake in T in the latest quarter, The investment management firm added 130 additional shares and now holds a total of 2,186 shares of AT&T which is valued at $93,145. AT&T makes up approx 0.03% of Ckw Financial Group’s portfolio.

AT&T opened for trading at $42.46 and hit $42.87 on the upside on Wednesday, eventually ending the session at $42.59, with a gain of 0.42% or 0.18 points. The heightened volatility saw the trading volume jump to 1,48,52,271 shares. Company has a market cap of $262,184 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 Downgraded by Citigroup on Jul 7, 2016 to ” Neutral”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Company shares were Reiterated by Deutsche Bank on Jun 28, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .AT&T was Downgraded by Buckingham Research to ” Neutral” on Jun 24, 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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