Holderness Investments Co Lowers stake in AT&T (T)

AT&T (T) : Holderness Investments Co reduced its stake in AT&T by 1.11% during the most recent quarter end. The investment management company now holds a total of 62,408 shares of AT&T which is valued at $2.4 Million after selling 700 shares in AT&T , the firm said in a disclosure report filed with the SEC on May 11, 2016.AT&T makes up approximately 2.35% of Holderness Investments Co’s portfolio.

Other Hedge Funds, Including , Welch Capital Partnersny reduced its stake in T by selling 69,470 shares or 15.47% in the most recent quarter. The Hedge Fund company now holds 379,491 shares of T which is valued at $14.9 Million. AT&T makes up approx 5.46% of Welch Capital Partnersny’s portfolio. Chickasaw Capital Management added T to its portfolio by purchasing 5,598 company shares during the most recent quarter which is valued at $219,162. AT&T makes up approx 0.01% of Chickasaw Capital Management’s portfolio. Copeland Capital Management sold out all of its stake in T during the most recent quarter. The investment firm sold 8,523 shares of T which is valued $333,675.Investment House boosted its stake in T in the latest quarter, The investment management firm added 510 additional shares and now holds a total of 7,240 shares of AT&T which is valued at $282,288. AT&T makes up approx 0.05% of Investment House’s portfolio.Parsec Financial Management boosted its stake in T in the latest quarter, The investment management firm added 7,837 additional shares and now holds a total of 154,908 shares of AT&T which is valued at $6 Million. AT&T makes up approx 0.59% of Parsec Financial Management’s portfolio.

AT&T opened for trading at $38.95 and hit $39.2988 on the upside on Monday, eventually ending the session at $39.28, with a gain of 0.33% or 0.13 points. The heightened volatility saw the trading volume jump to 1,50,57,768 shares. Company has a market cap of $241,808 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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