Boston, MA 01/02/2014 (wallstreetpr) – It is always important for everyday investors to know what their institutional counterparts think about the stocks they are holding. Over the past 12 months AT&T Inc. (NYSE:T) witnessed interesting hedge fund trading.
As it almost always turn out, investors who track the activities of big money and insider trading end up outperforming their index focused counterparts. In this sense, we can look into AT&T Inc. (NYSE:T) to see if hedge funds are bullish or bearish in the stock. We can also have a look into how executives traded the stock over the last 6 months.
As for the recent filing, there were 33 hedge funds trading AT&T Inc. (NYSE:T). There was a decrease of 13 percent of hedge funds in the stock heading into Q2. Hedge funds with the longest positions in the stock in the recent filing include Adage Capital Management, managed by Robert Atchinson and Phill Gross. The fund had $206.9 million stake in the stock, constituting 0.6 percent of its total portfolio.
AQR Capital Management, managed by Cliff Asness, was also long in the stock, holding $144.2 million stake, thus constituting 0.5 percent of its stock portfolio.
It is important to note that fund managers Adam Weiss and D. E. Shaw through their investment vehicles Scout Capital Management and D E Shaw respectively, are also long in AT&T Inc. (NYSE:T).
While some hedge funds were celebrating long position in AT&T Inc. (NYSE:T) stock, others couldn’t see the reason in holding the stock and either trimmed their stake or abandoned the stock altogether. Among the sellers was LMR Partners, managed by Ben Levine, Andrew Manuel and Stefan Renold. The fund cut is position by estimated $26.7 million.
Yet another big seller was Stevens Capital Management, managed by Matthew Tewksbury which abandoned the stock in an estimated $12 million worth.
About 5 hedge funds cut their positions in the stock over the last quarter. This suggests a bearish trend of hedge funds in the stock and this should offer some insightful information to everyday investors looking at AT&T Inc. (NYSE:T) as a prospect investment option.
Looking at the insider activity in AT&T Inc. (NYSE:T), it is possible to see that insiders are bullish in the stock. There have been two insider purchases and one insider selling over the past six months.