First City Capital Management buys $3.5 Million stake in AT&T (T)

AT&T (T) : First City Capital Management scooped up 502 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 88,884 shares of AT&T which is valued at $3.5 Million.AT&T makes up approximately 2.36% of First City Capital Management’s portfolio.

Other Hedge Funds, Including , Kings Point Capital Management reduced its stake in T by selling 1,963 shares or 5.06% in the most recent quarter. The Hedge Fund company now holds 36,860 shares of T which is valued at $1.4 Million. AT&T makes up approx 0.37% of Kings Point Capital Management’s portfolio.Wrapmanager Inc boosted its stake in T in the latest quarter, The investment management firm added 9,620 additional shares and now holds a total of 59,509 shares of AT&T which is valued at $2.3 Million. AT&T makes up approx 1.05% of Wrapmanager Inc’s portfolio.Alpine Woods Capital Investors reduced its stake in T by selling 31,300 shares or 21.01% in the most recent quarter. The Hedge Fund company now holds 117,692 shares of T which is valued at $4.6 Million. AT&T makes up approx 0.27% of Alpine Woods Capital Investors’s portfolio.Benedict Financial Advisors Inc boosted its stake in T in the latest quarter, The investment management firm added 2,129 additional shares and now holds a total of 65,019 shares of AT&T which is valued at $2.5 Million. AT&T makes up approx 1.55% of Benedict Financial Advisors Inc’s portfolio.Roanoke Asset Management Corp Ny reduced its stake in T by selling 4,300 shares or 6.94% in the most recent quarter. The Hedge Fund company now holds 57,645 shares of T which is valued at $2.2 Million. AT&T makes up approx 1.02% of Roanoke Asset Management Corp Ny’s portfolio.

AT&T opened for trading at $38.64 and hit $38.68 on the upside on Friday, eventually ending the session at $38.45, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 2,02,44,545 shares. Company has a market cap of $236,698 M.

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 DA Davidson on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .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 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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