Municipal Employees’ Retirement System Of Michigan buys $8,523,799 stake in AT&T (T)

AT&T (T) : Municipal Employees’ Retirement System Of Michigan scooped up 3,570 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 218,615 shares of AT&T which is valued at $8,523,799.AT&T makes up approximately 0.57% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Other Hedge Funds, Including , Jennison Associates added T to its portfolio by purchasing 1,097,780 company shares during the most recent quarter which is valued at $42,802,442. AT&T makes up approx 0.05% of Jennison Associates’s portfolio. Baltimore-washington Financial Advisors added T to its portfolio by purchasing 5,815 company shares during the most recent quarter which is valued at $226,727. AT&T makes up approx 0.07% of Baltimore-washington Financial Advisors’s portfolio.Klcm Advisors boosted its stake in T in the latest quarter, The investment management firm added 1,109 additional shares and now holds a total of 19,471 shares of AT&T which is valued at $755,864. AT&T makes up approx 0.26% of Klcm Advisors’s portfolio.Carroll Financial Associates boosted its stake in T in the latest quarter, The investment management firm added 1,499 additional shares and now holds a total of 50,384 shares of AT&T which is valued at $1,918,119. AT&T makes up approx 0.35% of Carroll Financial Associates’s portfolio. Horan Capital Management sold out all of its stake in T during the most recent quarter. The investment firm sold 5,570 shares of T which is valued $212,050.

AT&T opened for trading at $39.02 and hit $39.38 on the upside on Tuesday, eventually ending the session at $39.31, with a gain of 1.16% or 0.45 points. The heightened volatility saw the trading volume jump to 1,73,75,742 shares. Company has a market cap of $241,992 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 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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