Mitchell Sinkler Starrpa Lowers stake in AT&T (T)

AT&T (T) : Mitchell Sinkler Starrpa reduced its stake in AT&T by 1.3% during the most recent quarter end. The investment management company now holds a total of 54,457 shares of AT&T which is valued at $2,319,324 after selling 715 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.AT&T makes up approximately 3.10% of Mitchell Sinkler Starrpa’s portfolio.

Other Hedge Funds, Including , Community Trust Investment Co boosted its stake in T in the latest quarter, The investment management firm added 9,126 additional shares and now holds a total of 516,263 shares of AT&T which is valued at $21,987,641. AT&T makes up approx 2.73% of Community Trust Investment Co’s portfolio.Triangle Securities Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 564 additional shares and now holds a total of 24,288 shares of AT&T which is valued at $1,034,912. AT&T makes up approx 0.76% of Triangle Securities Wealth Management’s portfolio.Kempner Capital Management reduced its stake in T by selling 77,250 shares or 35.47% in the most recent quarter. The Hedge Fund company now holds 140,558 shares of T which is valued at $5,989,176. AT&T makes up approx 3.83% of Kempner Capital Management’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in T in the latest quarter, The investment management firm added 5,954 additional shares and now holds a total of 171,352 shares of AT&T which is valued at $7,428,109. AT&T makes up approx 1.44% of First Financial Bank N.a. – Trust Division’s portfolio.

AT&T opened for trading at $42.91 and hit $43.08 on the upside on Friday, eventually ending the session at $42.89, with a gain of 0.28% or 0.12 points. The heightened volatility saw the trading volume jump to 1,66,46,630 shares. Company has a market cap of $264,031 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 Barclays on Jul 15, 2016 to “Overweight”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .Company shares were Downgraded by Citigroup on Jul 7, 2016 to ” Neutral”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Company shares were Reiterated by Deutsche Bank on Jun 28, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .

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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