Summit Financial Wealth Advisors Lowers stake in AT&T (T)

AT&T (T) : Summit Financial Wealth Advisors reduced its stake in AT&T by 2.07% during the most recent quarter end. The investment management company now holds a total of 174,343 shares of AT&T which is valued at $7,428,755 after selling 3,684 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.AT&T makes up approximately 3.07% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Boltwood Capital Management reduced its stake in T by selling 400 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 18,151 shares of T which is valued at $786,846. AT&T makes up approx 0.66% of Boltwood Capital Management’s portfolio.Stock Yards Bank Trust Co reduced its stake in T by selling 68 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 388,832 shares of T which is valued at $16,855,867. AT&T makes up approx 2.25% of Stock Yards Bank Trust Co’s portfolio.Indiana Trust Investment Management Co boosted its stake in T in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 23,352 shares of AT&T which is valued at $1,012,309. AT&T makes up approx 0.53% of Indiana Trust Investment Management Co’s portfolio.New England Research Management reduced its stake in T by selling 750 shares or 2.82% in the most recent quarter. The Hedge Fund company now holds 25,836 shares of T which is valued at $1,119,991. AT&T makes up approx 0.98% of New England Research Management’s portfolio.

AT&T closed down -0.1 points or -0.23% at $42.51 with 2,15,93,732 shares getting traded on Monday. Post opening the session at $42.47, the shares hit an intraday low of $42.21 and an intraday high of $42.595 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 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 was Downgraded by Buckingham Research to ” Neutral” on Jun 24, 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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