Shikiar Asset Management Inc Lowers stake in AT&T (T)

AT&T (T) : Shikiar Asset Management Inc reduced its stake in AT&T by 31.91% during the most recent quarter end. The investment management company now holds a total of 10,661 shares of AT&T which is valued at $405,864 after selling 4,996 shares in AT&T , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.AT&T makes up approximately 0.18% of Shikiar Asset Management Inc’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 , Mechanics Bank Trust Department reduced its stake in T by selling 771 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 153,915 shares of T which is valued at $5,859,544. AT&T makes up approx 2.25% of Mechanics Bank Trust Department’s portfolio.Boston Advisors boosted its stake in T in the latest quarter, The investment management firm added 4,313 additional shares and now holds a total of 808,005 shares of AT&T which is valued at $30,760,750. AT&T makes up approx 0.75% of Boston Advisors’s portfolio.Eastern Bank boosted its stake in T in the latest quarter, The investment management firm added 1,469 additional shares and now holds a total of 174,713 shares of AT&T which is valued at $6,722,956. AT&T makes up approx 0.54% of Eastern Bank’s portfolio. Sit Investment Associates Inc sold out all of its stake in T during the most recent quarter. The investment firm sold 14,240 shares of T which is valued $547,955.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.

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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