Crestpoint Capital Management Lowers stake in AT&T (T)

AT&T (T) : Crestpoint Capital Management reduced its stake in AT&T by 4.35% during the most recent quarter end. The investment management company now holds a total of 63,800 shares of AT&T which is valued at $2,502,236 after selling 2,900 shares in AT&T , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.AT&T makes up approximately 1.30% of Crestpoint Capital Management’s portfolio.

Other Hedge Funds, Including , Laurel Grove Capital reduced its stake in T by selling 300 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 22,539 shares of T which is valued at $883,980. AT&T makes up approx 0.51% of Laurel Grove Capital’s portfolio.Blue Bell Private Wealth Management boosted its stake in T in the latest quarter, The investment management firm added 856 additional shares and now holds a total of 3,443 shares of AT&T which is valued at $135,034. AT&T makes up approx 0.08% of Blue Bell Private Wealth Management’s portfolio. Terra Nova Asset Management sold out all of its stake in T during the most recent quarter. The investment firm sold 16,614 shares of T which is valued $649,607.Jacobs Coca reduced its stake in T by selling 360 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 207,631 shares of T which is valued at $8,099,685. AT&T makes up approx 1.82% of Jacobs Coca’s portfolio.Fisher Asset Management boosted its stake in T in the latest quarter, The investment management firm added 4,990 additional shares and now holds a total of 54,833 shares of AT&T which is valued at $2,139,035.

AT&T closed down -0.15 points or -0.38% at $39.22 with 1,35,16,996 shares getting traded on Friday. Post opening the session at $39.41, the shares hit an intraday low of $39.22 and an intraday high of $39.575 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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