North Star Investment Management Corp. Lowers stake in AT&T (T)

AT&T (T) : North Star Investment Management Corp. reduced its stake in AT&T by 0.47% during the most recent quarter end. The investment management company now holds a total of 110,558 shares of AT&T which is valued at $4,708,665 after selling 523 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.AT&T makes up approximately 0.84% of North Star Investment Management Corp.’s portfolio.

Other Hedge Funds, Including , Cornerstone Investment Partners boosted its stake in T in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 9,554 shares of AT&T which is valued at $406,905. AT&T makes up approx 0.01% of Cornerstone Investment Partners’s portfolio.Peachtree Investment Advisors reduced its stake in T by selling 675 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 53,309 shares of T which is valued at $2,270,430. AT&T makes up approx 2.26% of Peachtree Investment Advisors’s portfolio.Merriman Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 720 additional shares and now holds a total of 10,294 shares of AT&T which is valued at $438,627. AT&T makes up approx 0.12% of Merriman Wealth Management’s portfolio.Lvm Capital Management Ltdmi reduced its stake in T by selling 9,606 shares or 2.62% in the most recent quarter. The Hedge Fund company now holds 356,765 shares of T which is valued at $15,201,757. AT&T makes up approx 4.36% of Lvm Capital Management Ltdmi’s portfolio.Patten Patten Inctn boosted its stake in T in the latest quarter, The investment management firm added 7,056 additional shares and now holds a total of 435,255 shares of AT&T which is valued at $18,546,216. AT&T makes up approx 2.54% of Patten Patten Inctn’s portfolio.

AT&T opened for trading at $42.91 and hit $43.08 on the upside on Friday, eventually ending the session at $42.89, with a gain of 0.28% or 0.12 points. The heightened volatility saw the trading volume jump to 1,66,46,630 shares. Company has a market cap of $264,031 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 Barclays on Jul 15, 2016 to “Overweight”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .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 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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