First Eagle Investment Management Has Trimmed Position in At&T (T) as Stock Value Declined; As Apple (AAPL) Market Valuation Rose, Berkshire Hathaway Lifted Stake

February 15, 2018 - By Stephen Andrade

Jean decreased its stake in At&T Inc (T) by 20.62% based on its latest 2017Q3 regulatory filing with the SEC. First Eagle Investment Management Llc sold 355,567 shares as the company’s stock declined 7.81% while stock markets rallied. The hedge fund run by Jean held 1.37 million shares of the telecommunications equipment company at the end of 2017Q3, valued at $53.61 million, down from 1.72M at the end of the previous reported quarter. First Eagle Investment Management Llc who had been investing in At&T Inc for a number of months, seems to be less bullish one the $223.52 billion market cap company. The stock decreased 0.52% or $0.19 during the last trading session, reaching $36.41. About 24.83 million shares traded. AT&T Inc. (NYSE:T) has declined 0.52% since February 15, 2017 and is downtrending. It has underperformed by 17.22% the S&P500.

Warren Buffett increased its stake in Apple Inc (AAPL) by 3% based on its latest 2017Q3 regulatory filing with the SEC. Berkshire Hathaway Inc bought 3.90M shares as the company’s stock rose 12.78% with the market. The hedge fund run by Warren Buffett held 134.09 million shares of the computer manufacturing company at the end of 2017Q3, valued at $20.67B, up from 130.19 million at the end of the previous reported quarter. Berkshire Hathaway Inc who had been investing in Apple Inc for a number of months, seems to be bullish on the $849.24 billion market cap company. The stock increased 1.84% or $3.03 during the last trading session, reaching $167.37. About 40.64M shares traded or 22.24% up from the average. Apple Inc. (NASDAQ:AAPL) has risen 62.48% since February 15, 2017 and is uptrending. It has outperformed by 45.78% the S&P500.

Among 30 analysts covering AT&T Inc. (NYSE:T), 10 have Buy rating, 1 Sell and 19 Hold. Therefore 33% are positive. AT&T Inc. had 73 analyst reports since July 27, 2015 according to SRatingsIntel. As per Tuesday, November 21, the company rating was maintained by Nomura. The company was maintained on Wednesday, April 12 by Wells Fargo. Macquarie Research maintained the stock with “Buy” rating in Tuesday, September 1 report. The firm earned “Hold” rating on Monday, October 2 by RBC Capital Markets. The firm has “Hold” rating by Scotia Capital given on Tuesday, January 30. On Tuesday, November 21 the stock rating was maintained by Robert W. Baird with “Buy”. Deutsche Bank downgraded the stock to “Hold” rating in Wednesday, January 11 report. Bank of America downgraded AT&T Inc. (NYSE:T) on Thursday, July 13 to “Neutral” rating. SunTrust maintained AT&T Inc. (NYSE:T) on Thursday, February 1 with “Hold” rating. The rating was maintained by Cowen & Co with “Hold” on Monday, September 18.

Investors sentiment increased to 1.17 in Q3 2017. Its up 0.02, from 1.15 in 2017Q2. It improved, as 77 investors sold T shares while 609 reduced holdings. 106 funds opened positions while 696 raised stakes. 3.34 billion shares or 1.04% more from 3.31 billion shares in 2017Q2 were reported. First Interstate National Bank & Trust holds 0.27% or 32,485 shares. Hanson Doremus Inv Mgmt, Vermont-based fund reported 60,316 shares. Buckingham Asset Mngmt Limited Liability Corporation reported 0.93% stake. Brave Asset Management invested in 82,883 shares. California Pub Employees Retirement Systems stated it has 0.9% in AT&T Inc. (NYSE:T). Eagle Ridge Invest accumulated 43,778 shares. Premier Asset Mngmt Ltd Liability Corp has invested 0.41% in AT&T Inc. (NYSE:T). The Wisconsin-based Marietta Ptnrs Limited Liability Corporation has invested 0.21% in AT&T Inc. (NYSE:T). British Columbia Mgmt Corporation invested 0.81% in AT&T Inc. (NYSE:T). Transamerica Fin Advsrs Inc invested in 188,949 shares or 0.91% of the stock. Rothschild Il holds 1.12% or 252,977 shares in its portfolio. 149,000 are owned by Opus Invest Mgmt. Dimensional Fund Advsr Ltd Partnership accumulated 68.36M shares. Chevy Chase Tru Holdings has invested 1% of its portfolio in AT&T Inc. (NYSE:T). Texan Cap Mgmt has 19,468 shares.

First Eagle Investment Management Llc, which manages about $44.72B US Long portfolio, upped its stake in Hershey Co (NYSE:HSY) by 573,799 shares to 1.12M shares, valued at $121.76 million in 2017Q3, according to the filing. It also increased its holding in Hrg Group Inc (NYSE:HRG) by 187,500 shares in the quarter, for a total of 222,500 shares, and has risen its stake in Verizon Communications Inc (NYSE:VZ).

Since August 15, 2017, it had 0 insider buys, and 7 sales for $70.47 million activity. KONDO CHRIS sold $1.01M worth of stock or 6,209 shares. Shares for $1.70M were sold by Srouji Johny. COOK TIMOTHY D sold 268,623 shares worth $43.15 million. AHRENDTS ANGELA J also sold $9.78M worth of Apple Inc. (NASDAQ:AAPL) on Tuesday, October 3. The insider SCHILLER PHILIP W sold $8.79M.

Among 53 analysts covering Apple Inc. (NASDAQ:AAPL), 35 have Buy rating, 1 Sell and 17 Hold. Therefore 66% are positive. Apple Inc. had 377 analyst reports since July 21, 2015 according to SRatingsIntel. BMO Capital Markets maintained the shares of AAPL in report on Monday, December 18 with “Buy” rating. The stock of Apple Inc. (NASDAQ:AAPL) earned “Hold” rating by Gabelli on Friday, December 1. The stock of Apple Inc. (NASDAQ:AAPL) has “Buy” rating given on Wednesday, May 31 by UBS. Barclays Capital maintained Apple Inc. (NASDAQ:AAPL) on Friday, November 3 with “Hold” rating. Needham downgraded the shares of AAPL in report on Friday, March 24 to “Buy” rating. As per Monday, October 9, the company rating was maintained by UBS. The stock of Apple Inc. (NASDAQ:AAPL) earned “Hold” rating by Raymond James on Friday, September 11. As per Monday, September 28, the company rating was maintained by RBC Capital Markets. The rating was maintained by Canaccord Genuity with “Buy” on Friday, November 3. The firm has “Buy” rating given on Wednesday, August 2 by FBN Securities.

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By1 Stephen Andrade

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