Zions Bancorporation National Association UT Purchases Shares of 200,276 AT&T Inc. (NYSE:T)

Key Points

• Zions Bancorporation National Association UT purchased 200,276 shares of AT&T Inc., valued at approximately $5.66 million, indicating increasing institutional interest in the company's stock.
• Analysts have set new price targets for AT&T, with JPMorgan raising its target from $31.00 to $33.00, suggesting a continued positive outlook on the stock.
• AT&T announced a quarterly dividend of $0.2775, representing a 4.0% yield, with a payout ratio of 63.07%, reflecting the company's commitment to returning value to shareholders.

Zions Bancorporation National Association UT bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 200,276 shares of the technology company's stock, valued at approximately $5,664,000.

Several other institutional investors also recently modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $27,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

NYSE:T traded up $0.02 during midday trading on Friday, hitting $28.08. The company had a trading volume of 23,594,470 shares, compared to its average volume of 34,716,284. AT&T Inc. has a 52-week low of $18.97 and a 52-week high of $29.19. The stock's fifty day moving average price is $27.83 and its 200-day moving average price is $27.04. The company has a market capitalization of $200.78 billion, a PE ratio of 15.95, a P/E/G ratio of 3.48 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's payout ratio is 63.07%.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. UBS Group reiterated a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.66.

About AT&T

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.