United Bank Lowers stake in AT&T (T)

AT&T (T) : United Bank reduced its stake in AT&T by 7.04% during the most recent quarter end. The investment management company now holds a total of 163,883 shares of AT&T which is valued at $7,064,996 after selling 12,411 shares in AT&T , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.AT&T makes up approximately 3.14% of United Bank’s portfolio.

Other Hedge Funds, Including , Security National Trust Co boosted its stake in T in the latest quarter, The investment management firm added 5,147 additional shares and now holds a total of 102,997 shares of AT&T which is valued at $4,440,201. AT&T makes up approx 1.59% of Security National Trust Co’s portfolio.Regentatlantic Capital boosted its stake in T in the latest quarter, The investment management firm added 50,075 additional shares and now holds a total of 249,475 shares of AT&T which is valued at $10,655,077. AT&T makes up approx 1.00% of Regentatlantic Capital’s portfolio.Mai Capital Management boosted its stake in T in the latest quarter, The investment management firm added 1,031 additional shares and now holds a total of 52,736 shares of AT&T which is valued at $2,259,738. AT&T makes up approx 0.18% of Mai Capital Management’s portfolio.Barry Investment Advisors reduced its stake in T by selling 2,814 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 244,648 shares of T which is valued at $10,483,167. AT&T makes up approx 3.98% of Barry Investment Advisors’s portfolio.Cohen Lawrence B boosted its stake in T in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 13,585 shares of AT&T which is valued at $578,857. AT&T makes up approx 0.34% of Cohen Lawrence B’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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