Zions Bancorporation N.A. Reduces Stake in AT&T Inc. (NYSE:T)

Zions Bancorporation N.A. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 17.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 252,941 shares of the technology company’s stock after selling 54,118 shares during the period. Zions Bancorporation N.A.’s holdings in AT&T were worth $5,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its holdings in shares of AT&T by 19.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company’s stock valued at $1,472,000 after purchasing an additional 10,854 shares during the last quarter. Swedbank AB grew its stake in AT&T by 7.1% during the 3rd quarter. Swedbank AB now owns 3,299,715 shares of the technology company’s stock worth $72,594,000 after buying an additional 219,382 shares during the last quarter. Larson Financial Group LLC increased its position in AT&T by 27.3% during the third quarter. Larson Financial Group LLC now owns 39,481 shares of the technology company’s stock worth $869,000 after buying an additional 8,460 shares during the period. Davis R M Inc. lifted its stake in AT&T by 20.5% in the third quarter. Davis R M Inc. now owns 36,416 shares of the technology company’s stock valued at $801,000 after buying an additional 6,202 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in shares of AT&T by 1,453.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 75,560 shares of the technology company’s stock worth $1,661,000 after acquiring an additional 70,696 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.2 %

Shares of NYSE T opened at $26.96 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $25.24 and a 200 day moving average price of $23.36. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The stock has a market capitalization of $193.49 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on T. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Tigress Financial increased their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.