Modera Wealth Management Lowers stake in AT&T (T)

AT&T (T) : Modera Wealth Management reduced its stake in AT&T by 17.38% during the most recent quarter end. The investment management company now holds a total of 41,410 shares of AT&T which is valued at $1,777,731 after selling 8,711 shares in AT&T , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.AT&T makes up approximately 0.60% of Modera Wealth Management’s portfolio.

Other Hedge Funds, Including , Sandy Spring Bank reduced its stake in T by selling 5,626 shares or 6.61% in the most recent quarter. The Hedge Fund company now holds 79,491 shares of T which is valued at $3,412,549. AT&T makes up approx 0.38% of Sandy Spring Bank’s portfolio.Autus Asset Management reduced its stake in T by selling 145 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 7,212 shares of T which is valued at $312,929. AT&T makes up approx 0.07% of Autus Asset Management’s portfolio.Cornerstone Financial Partners boosted its stake in T in the latest quarter, The investment management firm added 13,114 additional shares and now holds a total of 67,682 shares of AT&T which is valued at $2,919,801. AT&T makes up approx 1.02% of Cornerstone Financial Partners’s portfolio.Evercore Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 2,794 additional shares and now holds a total of 179,642 shares of AT&T which is valued at $7,749,756. AT&T makes up approx 0.33% of Evercore Wealth Management’s portfolio.Essex Financial Services boosted its stake in T in the latest quarter, The investment management firm added 19,167 additional shares and now holds a total of 161,749 shares of AT&T which is valued at $7,002,114. AT&T makes up approx 1.65% of Essex Financial Services’s portfolio.

AT&T closed down -0.1 points or -0.24% at $41.86 with 2,93,38,669 shares getting traded on Wednesday. Post opening the session at $42.01, the shares hit an intraday low of $41.34 and an intraday high of $42.08 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 FBR Capital on Jul 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .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 .

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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