AT&T Inc. (NYSE:T) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. reduced its position in AT&T Inc. (NYSE:T) by 18.3% in the 2nd quarter, Holdings Channel reports. The firm owned 313,717 shares of the technology company’s stock after selling 70,209 shares during the quarter. Zions Bancorporation N.A.’s holdings in AT&T were worth $5,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp grew its stake in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Norges Bank acquired a new stake in AT&T in the 4th quarter valued at about $1,118,288,000. LSV Asset Management lifted its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its holdings in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

Shares of NYSE:T opened at $21.59 on Friday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.86. The company’s 50 day moving average is $19.53 and its two-hundred day moving average is $18.13. The company has a market cap of $154.81 billion, a PE ratio of 11.61, a P/E/G ratio of 3.65 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays increased their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.31.

AT&T Company 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.