Warren Averett Asset Management Lowers stake in AT&T (T)

AT&T (T) : Warren Averett Asset Management reduced its stake in AT&T by 2.3% during the most recent quarter end. The investment management company now holds a total of 18,423 shares of AT&T which is valued at $701,364 after selling 434 shares in AT&T , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.AT&T makes up approximately 0.42% of Warren Averett Asset Management’s portfolio.

AT&T opened for trading at $37.85 and hit $38.165 on the upside on Friday, eventually ending the session at $38.07, with a gain of 0.55% or 0.21 points. The heightened volatility saw the trading volume jump to 2,43,00,177 shares. Company has a market cap of $234,177 M.

Other Hedge Funds, Including , Community Bank N.a. boosted its stake in T in the latest quarter, The investment management firm added 864 additional shares and now holds a total of 205,730 shares of AT&T which is valued at $7,832,141. AT&T makes up approx 1.87% of Community Bank N.a.’s portfolio.Independence Trust Co reduced its stake in T by selling 18,510 shares or 24.13% in the most recent quarter. The Hedge Fund company now holds 58,195 shares of T which is valued at $2,215,484. AT&T makes up approx 3.49% of Independence Trust Co’s portfolio.Pioneer Trust Bank N Aor reduced its stake in T by selling 1,225 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 67,117 shares of T which is valued at $2,582,662. AT&T makes up approx 1.62% of Pioneer Trust Bank N Aor’s portfolio.Alpha Windward reduced its stake in T by selling 219 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 9,044 shares of T which is valued at $348,013. AT&T makes up approx 0.25% of Alpha Windward’s portfolio.Banced Corp boosted its stake in T in the latest quarter, The investment management firm added 17,459 additional shares and now holds a total of 28,564 shares of AT&T which is valued at $1,099,143. AT&T makes up approx 1.91% of Banced Corp’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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