Meeder Asset Management Inc buys $12 Million stake in AT&T (T)

AT&T (T) : Meeder Asset Management Inc scooped up 168,711 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 305,573 shares of AT&T which is valued at $12 Million.AT&T makes up approximately 1.14% of Meeder Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Sns Financial Group boosted its stake in T in the latest quarter, The investment management firm added 1,440 additional shares and now holds a total of 140,275 shares of AT&T which is valued at $5.5 Million. AT&T makes up approx 2.18% of Sns Financial Group’s portfolio.Lvw Advisors boosted its stake in T in the latest quarter, The investment management firm added 2,506 additional shares and now holds a total of 101,215 shares of AT&T which is valued at $4 Million. AT&T makes up approx 1.27% of Lvw Advisors’s portfolio.Pettee Investors reduced its stake in T by selling 2,046 shares or 11.58% in the most recent quarter. The Hedge Fund company now holds 15,618 shares of T which is valued at $611,445. AT&T makes up approx 0.62% of Pettee Investors’s portfolio.Blackrock Advisors reduced its stake in T by selling 4,373,905 shares or 46.29% in the most recent quarter. The Hedge Fund company now holds 5,074,531 shares of T which is valued at $198.7 Million. AT&T makes up approx 0.22% of Blackrock Advisors’s portfolio. Centre Asset Management added T to its portfolio by purchasing 163,690 company shares during the most recent quarter which is valued at $6.4 Million. AT&T makes up approx 1.12% of Centre Asset Management’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.

Leave a Reply

AT&T - Is it time to Sell?

Top Brokerage Firms are advising their investors on AT&T. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.