Cibc Asset Management Inc Lowers stake in AT&T (T)

AT&T (T) : Cibc Asset Management Inc reduced its stake in AT&T by 0.1% during the most recent quarter end. The investment management company now holds a total of 756,389 shares of AT&T which is valued at $32,630,621 after selling 746 shares in AT&T , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.AT&T makes up approximately 0.24% of Cibc Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Northeast Investment Management boosted its stake in T in the latest quarter, The investment management firm added 3,029 additional shares and now holds a total of 28,011 shares of AT&T which is valued at $1,208,395. AT&T makes up approx 0.12% of Northeast Investment Management’s portfolio.United Bank Va reduced its stake in T by selling 32 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 84,184 shares of T which is valued at $3,599,708. AT&T makes up approx 3.39% of United Bank Va’s portfolio.Paragon Capital Management reduced its stake in T by selling 219 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 20,066 shares of T which is valued at $865,045. AT&T makes up approx 0.30% of Paragon Capital Management’s portfolio.Woodley Farra Manion Portfolio Management Inc boosted its stake in T in the latest quarter, The investment management firm added 201 additional shares and now holds a total of 101,667 shares of AT&T which is valued at $4,342,198. AT&T makes up approx 0.66% of Woodley Farra Manion Portfolio Management Inc’s portfolio.Community Trust Investment Co boosted its stake in T in the latest quarter, The investment management firm added 9,126 additional shares and now holds a total of 516,263 shares of AT&T which is valued at $21,987,641. AT&T makes up approx 2.73% of Community Trust Investment Co’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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