Warren Averett Asset Management Lowers stake in AT&T (T)

AT&T (T) : Warren Averett Asset Management reduced its stake in AT&T by 11.68% during the most recent quarter end. The investment management company now holds a total of 16,272 shares of AT&T which is valued at $693,024 after selling 2,151 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.AT&T makes up approximately 0.31% of Warren Averett Asset Management’s portfolio.

Other Hedge Funds, Including , North Star Investment Management Corp. reduced its stake in T by selling 523 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 110,558 shares of T which is valued at $4,708,665. AT&T makes up approx 0.84% of North Star Investment Management Corp.’s portfolio. Searle sold out all of its stake in T during the most recent quarter. The investment firm sold 39,339 shares of T which is valued $1,675,448.Edge Wealth Management reduced its stake in T by selling 1,044 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 162,209 shares of T which is valued at $6,911,725. AT&T makes up approx 2.84% of Edge Wealth Management’s portfolio.Carl Domino Inc reduced its stake in T by selling 6,559 shares or 24.33% in the most recent quarter. The Hedge Fund company now holds 20,399 shares of T which is valued at $869,201. AT&T makes up approx 0.80% of Carl Domino Inc’s portfolio.

AT&T closed down -0.04 points or -0.09% at $42.85 with 1,23,40,995 shares getting traded on Monday. Post opening the session at $42.86, the shares hit an intraday low of $42.67 and an intraday high of $42.9 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 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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