Canandaigua National Bank Trust Co Lowers stake in AT&T (T)

AT&T (T) : Canandaigua National Bank Trust Co reduced its stake in AT&T by 1.44% during the most recent quarter end. The investment management company now holds a total of 120,223 shares of AT&T which is valued at $4,700,719 after selling 1,752 shares in AT&T , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.AT&T makes up approximately 1.39% of Canandaigua National Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Patten Patten Inctn reduced its stake in T by selling 2,063 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 433,192 shares of T which is valued at $16,937,807. AT&T makes up approx 2.21% of Patten Patten Inctn’s portfolio.Gofen Glossberg Il reduced its stake in T by selling 3,116 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 334,795 shares of T which is valued at $13,060,353. AT&T makes up approx 0.54% of Gofen Glossberg Il’s portfolio.Stillwater Capital Advisors reduced its stake in T by selling 263 shares or 4.43% in the most recent quarter. The Hedge Fund company now holds 5,674 shares of T which is valued at $221,343. AT&T makes up approx 0.06% of Stillwater Capital Advisors’s portfolio.Bouchey Financial Group Ltd reduced its stake in T by selling 996 shares or 13.13% in the most recent quarter. The Hedge Fund company now holds 6,588 shares of T which is valued at $256,998. AT&T makes up approx 0.09% of Bouchey Financial Group Ltd’s portfolio.First Mercantile Trust Co reduced its stake in T by selling 9,500 shares or 18.32% in the most recent quarter. The Hedge Fund company now holds 42,362 shares of T which is valued at $1,646,611. AT&T makes up approx 0.22% of First Mercantile Trust Co’s portfolio.

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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