Blackrock Group Ltd Lowers stake in AT&T (T)

AT&T (T) : Blackrock Group Ltd reduced its stake in AT&T by 0.07% during the most recent quarter end. The investment management company now holds a total of 49,101,606 shares of AT&T which is valued at $2,125,117,508 after selling 36,697 shares in AT&T , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.AT&T makes up approximately 1.07% of Blackrock Group Ltd’s portfolio.

Other Hedge Funds, Including , Wms Partners reduced its stake in T by selling 1,044 shares or 7.49% in the most recent quarter. The Hedge Fund company now holds 12,892 shares of T which is valued at $557,966. AT&T makes up approx 0.07% of Wms Partners’s portfolio.Telos Capital Management reduced its stake in T by selling 4,839 shares or 6.61% in the most recent quarter. The Hedge Fund company now holds 68,399 shares of T which is valued at $2,967,833. AT&T makes up approx 1.39% of Telos Capital Management’s portfolio.Capital Planning Advisors reduced its stake in T by selling 305 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 38,215 shares of T which is valued at $1,647,449. AT&T makes up approx 0.88% of Capital Planning Advisors’s portfolio.Wendell David Associates Inc reduced its stake in T by selling 325 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 67,834 shares of T which is valued at $2,897,190. AT&T makes up approx 0.55% of Wendell David Associates Inc’s portfolio.

AT&T closed down -0.39 points or -0.94% at $41.01 with 2,94,61,925 shares getting traded on Friday. Post opening the session at $41.23, the shares hit an intraday low of $40.69 and an intraday high of $41.25 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Leave a Reply

AT&T - Is it time to Sell?

Top Brokerage Firms are advising their investors on AT&T. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.