Symons Capital Management Inc buys $23.7 Million stake in AT&T (T)

AT&T (T) : Symons Capital Management Inc scooped up 143 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 604,363 shares of AT&T which is valued at $23.7 Million.AT&T makes up approximately 5.87% of Symons Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Johnson Investment Counsel Inc boosted its stake in T in the latest quarter, The investment management firm added 3,125 additional shares and now holds a total of 898,035 shares of AT&T which is valued at $35.2 Million. AT&T makes up approx 1.24% of Johnson Investment Counsel Inc’s portfolio.Scotia Capital reduced its stake in T by selling 88,241 shares or 16.83% in the most recent quarter. The Hedge Fund company now holds 435,949 shares of T which is valued at $17.1 Million. AT&T makes up approx 0.41% of Scotia Capital’s portfolio.Welch Forbes reduced its stake in T by selling 5,776 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 509,659 shares of T which is valued at $19.9 Million. AT&T makes up approx 0.62% of Welch Forbes’s portfolio. Regis Management Co sold out all of its stake in T during the most recent quarter. The investment firm sold 17,107 shares of T which is valued $667,002.Schulhoff Co Inc reduced its stake in T by selling 2,485 shares or 2.47% in the most recent quarter. The Hedge Fund company now holds 98,186 shares of T which is valued at $3.8 Million. AT&T makes up approx 2.48% of Schulhoff Co Inc’s portfolio.

AT&T opened for trading at $38.67 and hit $38.72 on the upside on Wednesday, eventually ending the session at $38.62, with a gain of 0.31% or 0.12 points. The heightened volatility saw the trading volume jump to 1,47,10,398 shares. Company has a market cap of $237,745 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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