Navellier Associates Inc buys $11,323,085 stake in AT&T (T)

AT&T (T) : Navellier Associates Inc scooped up 129,290 additional shares in AT&T during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 262,473 shares of AT&T which is valued at $11,323,085.AT&T makes up approximately 1.66% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , Signature Financial Management boosted its stake in T in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 10,111 shares of AT&T which is valued at $436,189. AT&T makes up approx 0.20% of Signature Financial Management’s portfolio.Badgley Phelps Bell Inc boosted its stake in T in the latest quarter, The investment management firm added 4,263 additional shares and now holds a total of 21,532 shares of AT&T which is valued at $928,890. AT&T makes up approx 0.08% of Badgley Phelps Bell Inc’s portfolio.Burt Wealth Advisors reduced its stake in T by selling 1,107 shares or 15.7% in the most recent quarter. The Hedge Fund company now holds 5,946 shares of T which is valued at $256,332. AT&T makes up approx 0.23% of Burt Wealth Advisors’s portfolio.Merriman Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 720 additional shares and now holds a total of 10,294 shares of AT&T which is valued at $438,627. AT&T makes up approx 0.12% of Merriman Wealth Management’s portfolio.Nadler Financial Group boosted its stake in T in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 14,085 shares of AT&T which is valued at $600,162. AT&T makes up approx 0.25% of Nadler Financial Group’s portfolio.

AT&T closed down -0.23 points or -0.53% at $42.93 with 1,40,33,580 shares getting traded on Monday. Post opening the session at $43.17, the shares hit an intraday low of $42.8 and an intraday high of $43.17 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 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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