Daniel Devine Co Lowers stake in AT&T (T)

AT&T (T) : Daniel Devine Co reduced its stake in AT&T by 7.98% during the most recent quarter end. The investment management company now holds a total of 39,200 shares of AT&T which is valued at $1,508,416 after selling 3,400 shares in AT&T , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.AT&T makes up approximately 0.97% of Daniel Devine Co’s portfolio.

AT&T opened for trading at $38.57 and hit $38.8 on the upside on Monday, eventually ending the session at $38.65, with a gain of 0.44% or 0.17 points. The heightened volatility saw the trading volume jump to 1,73,32,019 shares. Company has a market cap of $237,744 M.

Other Hedge Funds, Including , Financial Consulate Inc boosted its stake in T in the latest quarter, The investment management firm added 3,166 additional shares and now holds a total of 17,851 shares of AT&T which is valued at $686,906. AT&T makes up approx 0.47% of Financial Consulate Inc’s portfolio.Wunderlich Securities reduced its stake in T by selling 13,432 shares or 36.41% in the most recent quarter. The Hedge Fund company now holds 23,457 shares of T which is valued at $902,625. AT&T makes up approx 1.34% of Wunderlich Securities’s portfolio.Vigilant Capital Management reduced its stake in T by selling 287 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 8,909 shares of T which is valued at $342,017. AT&T makes up approx 0.07% of Vigilant Capital Management’s portfolio.Proficio Capital Partners boosted its stake in T in the latest quarter, The investment management firm added 245 additional shares and now holds a total of 872 shares of AT&T which is valued at $33,476. AT&T makes up approx 0.03% of Proficio Capital Partners’s portfolio.

On the company’s financial health, AT&T reported $0.63 EPS for the quarter, based on the information available during the earnings call on Jan 26, 2016. Analyst had a consensus estimate of $0.63. The company had revenue of $42100.00 million for the quarter, compared to analysts expectations of $42719.73 million. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on AT&T. 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 was Initiated by Macquarie to “Outperform” on Apr 5, 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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