Patten Patten Inctn buys $16,477,098 stake in AT&T (T)

AT&T (T) : Patten Patten Inctn scooped up 15,287 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 15, 2016. The investment management firm now holds a total of 428,199 shares of AT&T which is valued at $16,477,098.AT&T makes up approximately 2.33% of Patten Patten Inctn’s portfolio.

AT&T closed down -0.86 points or -2.22% at $37.86 with 3,22,36,612 shares getting traded on Wednesday. Post opening the session at $38.53, the shares hit an intraday low of $37.85 and an intraday high of $38.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Portfolio Solutions added T to its portfolio by purchasing 5,208 company shares during the most recent quarter which is valued at $200,404. AT&T makes up approx 0.03% of Portfolio Solutions’s portfolio.1st Global Advisors boosted its stake in T in the latest quarter, The investment management firm added 3,375 additional shares and now holds a total of 103,802 shares of AT&T which is valued at $3,994,301. AT&T makes up approx 0.56% of 1st Global Advisors’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.Gofen Glossberg Il reduced its stake in T by selling 2,623 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 340,922 shares of T which is valued at $13,118,679. AT&T makes up approx 0.55% of Gofen Glossberg Il’s portfolio.Beese Fulmer Investment Management reduced its stake in T by selling 2,420 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 159,464 shares of T which is valued at $6,136,175. AT&T makes up approx 1.76% of Beese Fulmer Investment Management’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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