Verus Financial Partners Lowers stake in AT&T (T)

AT&T (T) : Verus Financial Partners reduced its stake in AT&T by 3.15% during the most recent quarter end. The investment management company now holds a total of 13,134 shares of AT&T which is valued at $517,086 after selling 427 shares in AT&T , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.AT&T makes up approximately 0.23% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Wealthcare Capital Management boosted its stake in T in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 2,702 shares of AT&T which is valued at $106,378. AT&T makes up approx 0.01% of Wealthcare Capital Management’s portfolio.Keystone Financial Planning boosted its stake in T in the latest quarter, The investment management firm added 1,085 additional shares and now holds a total of 158,253 shares of AT&T which is valued at $6,187,692. AT&T makes up approx 4.15% of Keystone Financial Planning’s portfolio.Hudson Valley Investment Advisors Inc Adv reduced its stake in T by selling 233 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 81,168 shares of T which is valued at $3,166,364. AT&T makes up approx 0.98% of Hudson Valley Investment Advisors Inc Adv’s portfolio.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.

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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