Zions Bancorporation N.A. Sells 6,658 Shares of AT&T Inc. (NYSE:T)

Zions Bancorporation N.A. trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 307,059 shares of the technology company’s stock after selling 6,658 shares during the quarter. Zions Bancorporation N.A.’s holdings in AT&T were worth $6,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its stake in shares of AT&T by 6.8% during the third quarter. KBC Group NV now owns 1,349,457 shares of the technology company’s stock valued at $29,688,000 after acquiring an additional 85,378 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of AT&T by 25.3% during the third quarter. Plato Investment Management Ltd now owns 176,278 shares of the technology company’s stock valued at $3,874,000 after acquiring an additional 35,599 shares during the last quarter. Cable Hill Partners LLC raised its stake in shares of AT&T by 11.3% during the third quarter. Cable Hill Partners LLC now owns 18,942 shares of the technology company’s stock valued at $417,000 after acquiring an additional 1,929 shares during the last quarter. D Orazio & Associates Inc. raised its stake in shares of AT&T by 6.3% during the third quarter. D Orazio & Associates Inc. now owns 13,287 shares of the technology company’s stock valued at $292,000 after acquiring an additional 786 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of AT&T by 22.6% during the third quarter. Oppenheimer & Co. Inc. now owns 1,182,235 shares of the technology company’s stock valued at $26,009,000 after acquiring an additional 218,312 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Up 0.7 %

Shares of NYSE T opened at $22.30 on Thursday. The firm’s 50 day moving average price is $21.82 and its 200-day moving average price is $19.65. The company has a market cap of $160.01 billion, a PE ratio of 18.13, a P/E/G ratio of 3.33 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.52 and a 52-week high of $22.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.