Cambridge Advisors Lowers stake in AT&T (T)

AT&T (T) : Cambridge Advisors reduced its stake in AT&T by 1.9% during the most recent quarter end. The investment management company now holds a total of 50,677 shares of AT&T which is valued at $2,166,949 after selling 980 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.AT&T makes up approximately 0.96% of Cambridge Advisors’s portfolio.

Other Hedge Funds, Including , Seminole Management reduced its stake in T by selling 675,972 shares or 32.13% in the most recent quarter. The Hedge Fund company now holds 1,428,023 shares of T which is valued at $61,062,263. AT&T makes up approx 6.02% of Seminole Management’s portfolio. First National Bank Of Hutchinson added T to its portfolio by purchasing 5,785 company shares during the most recent quarter which is valued at $247,367. AT&T makes up approx 0.15% of First National Bank Of Hutchinson’s portfolio.Longer Investments reduced its stake in T by selling 13,995 shares or 24.73% in the most recent quarter. The Hedge Fund company now holds 42,592 shares of T which is valued at $1,819,104. AT&T makes up approx 1.94% of Longer Investments’s portfolio.Palisade Asset Management reduced its stake in T by selling 3,600 shares or 5.13% in the most recent quarter. The Hedge Fund company now holds 66,550 shares of T which is valued at $2,834,365. AT&T makes up approx 0.53% of Palisade Asset Management’s portfolio.Abner Herrman Brock boosted its stake in T in the latest quarter, The investment management firm added 312 additional shares and now holds a total of 35,907 shares of AT&T which is valued at $1,529,279. AT&T makes up approx 0.35% of Abner Herrman Brock’s portfolio.

AT&T opened for trading at $42.62 and hit $43.39 on the upside on Friday, eventually ending the session at $43.29, with a gain of 1.67% or 0.71 points. The heightened volatility saw the trading volume jump to 2,52,45,687 shares. Company has a market cap of $266,493 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 FBR Capital on Jul 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .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 .

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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