Zions Bancorporation N.A. Trims Stock Position in AT&T Inc. (NYSE:T)

Zions Bancorporation N.A. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 17.6% in the fourth quarter, HoldingsChannel reports. The firm 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.

Several other institutional investors have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. boosted its stake in shares of AT&T by 1.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after purchasing an additional 421 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the period. Whittier Trust Co. grew its stake in AT&T by 0.7% in the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after acquiring an additional 433 shares during the period. Wealthstream Advisors Inc. raised its holdings in AT&T by 3.7% in the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after acquiring an additional 444 shares during the last quarter. Finally, Northeast Investment Management lifted its stake in shares of AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 451 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE:T opened at $26.96 on Tuesday. The business’s 50-day simple moving average is $25.24 and its 200 day simple moving average is $23.36. The company has a market cap of $193.49 billion, a P/E ratio of 18.09, a PEG ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada upped their target price on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target 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.