British Columbia Investment Management Corp Lowers stake in AT&T (T)

AT&T (T) : British Columbia Investment Management Corp reduced its stake in AT&T by 15.11% during the most recent quarter end. The investment management company now holds a total of 2,431,133 shares of AT&T which is valued at $95,057,300 after selling 432,762 shares in AT&T , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.AT&T makes up approximately 0.97% of British Columbia Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Canandaigua National Bank Trust Co reduced its stake in T by selling 1,752 shares or 1.44% in the most recent quarter. The Hedge Fund company now holds 120,223 shares of T which is valued at $4,700,719. AT&T makes up approx 1.39% of Canandaigua National Bank Trust Co’s portfolio.Thompson Rubinstein Investment Management Inc Or reduced its stake in T by selling 2,900 shares or 8.96% in the most recent quarter. The Hedge Fund company now holds 29,482 shares of T which is valued at $1,150,093. AT&T makes up approx 0.44% of Thompson Rubinstein Investment Management Inc Or’s portfolio.First National Bank Of Mount Dora Trust Investment Services reduced its stake in T by selling 997 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 26,320 shares of T which is valued at $1,030,691. AT&T makes up approx 0.58% of First National Bank Of Mount Dora Trust Investment Services’s portfolio. Norman Fields Gottscho Capital Management sold out all of its stake in T during the most recent quarter. The investment firm sold 4,885 shares of T which is valued $191,297.

AT&T opened for trading at $38.94 and hit $39.38 on the upside on Tuesday, eventually ending the session at $39.1, with a gain of 0.23% or 0.09 points. The heightened volatility saw the trading volume jump to 2,23,14,937 shares. Company has a market cap of $240,543 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. Shares were Downgraded by UBS on Sep 28, 2016 to ” Neutral” and Lowered the Price Target to $ 43 from a previous price target of $46 .AT&T was Upgraded by HSBC Securities to ” Hold” on Sep 26, 2016. 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 .

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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