Norman Fields Gottscho Capital Management Exits Position in AT&T (T)

AT&T (T) : Norman Fields Gottscho Capital Management has sold out all of its stake in AT&T during the most recent quarter, according to the disclosure filed by the company on Oct 4, 2016 with the SEC. The investment management company has sold out 4,885 shares of AT&T which is valued at $191,297.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in T in the latest quarter, The investment management firm added 12,967 additional shares and now holds a total of 56,563 shares of AT&T which is valued at $2,215,007. AT&T makes up approx 0.14% of Eqis Capital Management’s portfolio.Cullinan Associates Inc reduced its stake in T by selling 7,500 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 151,402 shares of T which is valued at $5,928,902. AT&T makes up approx 0.51% of Cullinan Associates Inc’s portfolio.Bath Savings Trust Co boosted its stake in T in the latest quarter, The investment management firm added 388 additional shares and now holds a total of 77,708 shares of AT&T which is valued at $3,043,045. AT&T makes up approx 0.96% of Bath Savings Trust Co’s portfolio.Beacon Financial Group boosted its stake in T in the latest quarter, The investment management firm added 599 additional shares and now holds a total of 48,930 shares of AT&T which is valued at $1,916,099. AT&T makes up approx 0.40% of Beacon Financial Group’s portfolio.

AT&T closed down -0.87 points or -2.13% at $39.9 with 3,31,79,916 shares getting traded on Tuesday. Post opening the session at $40.72, the shares hit an intraday low of $39.71 and an intraday high of $40.76 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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