Jolley Asset Management adds AT&T (T) to its portfolio

AT&T (T) : Jolley Asset Management added new position in AT&T during the most recent quarter end. The investment management firm now holds 1,270 shares of AT&T which is valued at $48,349 , the company said in a statement filed on Apr 21, 2016 with the SEC.AT&T makes up approximately 0.04% of Jolley Asset Management’s portfolio.

AT&T opened for trading at $37.86 and hit $38.91 on the upside on Wednesday, eventually ending the session at $38.72, with a gain of 1.65% or 0.63 points. The heightened volatility saw the trading volume jump to 4,14,17,702 shares. Company has a market cap of $238,175 M.

Other Hedge Funds, Including , Dumont Blake Investment Advisors boosted its stake in T in the latest quarter, The investment management firm added 1,106 additional shares and now holds a total of 25,654 shares of AT&T which is valued at $976,648. AT&T makes up approx 0.50% of Dumont Blake Investment Advisors’s portfolio.Btim Corp. reduced its stake in T by selling 417 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 103,677 shares of T which is valued at $3,946,983. AT&T makes up approx 0.07% of Btim Corp.’s portfolio.Mission Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 2,359 additional shares and now holds a total of 20,018 shares of AT&T which is valued at $770,293. AT&T makes up approx 0.20% of Mission Wealth Management’s portfolio.Lowe Fs boosted its stake in T in the latest quarter, The investment management firm added 869 additional shares and now holds a total of 44,535 shares of AT&T which is valued at $1,713,707. AT&T makes up approx 1.17% of Lowe Fs’s portfolio.First American Bank boosted its stake in T in the latest quarter, The investment management firm added 121,732 additional shares and now holds a total of 130,658 shares of AT&T which is valued at $5,015,961. AT&T makes up approx 0.52% of First American Bank’s portfolio.

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 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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