Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BEEBE KEVIN L
  2. Issuer Name and Ticker or Trading Symbol
ALLTEL CORP [AT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Group Pres.-Operations
(Last)
(First)
(Middle)
ONE ALLIED DRIVE, B5F11B
3. Date of Earliest Transaction (Month/Day/Year)
11/16/2007
(Street)

LITTLE ROCK, AR 72202
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/16/2007   D   90,291 D $ 71.5 0 D  
Common Stock 11/16/2007   D   565.93 D $ 71.5 0 I By 401(k)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option $ 45.22 11/16/2007   D     89,439   (1) 01/19/2015 Common Stock 89,439 (2) 0 D  
Non-Qualified Stock Option $ 50.79 11/16/2007   D     89,681   (1) 01/18/2016 Common Stock 89,681 (2) 0 D  
Non-Qualified Stock Option $ 61.51 11/16/2007   D     75,000   (1) 01/17/2017 Common Stock 75,000 (2) 0 D  
Stock Options $ 23.83 11/16/2007   D     708   (1) 02/16/2000 Common Stock 708 (2) 0 D  
Stock Options $ 26.47 11/16/2007   D     64,746   (1) 02/16/2008 Common Stock 64,746 (2) 0 D  
Incentive Stock Option $ 53.24 11/16/2007   D     9,385   (1) 01/27/2009 Common Stock 9,385 (2) 0 D  
Incentive Stock Option $ 52.17 11/16/2007   D     2   (1) 08/08/2010 Common Stock 2 (2) 0 D  
Incentive Stock Option $ 55.54 11/16/2007   D     1,800   (1) 01/25/2011 Common Stock 1,800 (2) 0 D  
Incentive Stock Option $ 45.88 11/16/2007   D     2,179   (1) 01/23/2012 Common Stock 2,179 (2) 0 D  
Incentive Stock Option $ 41.1 11/16/2007   D     2,433   (1) 01/22/2013 Common Stock 2,433 (2) 0 D  
Incentive Stock Option $ 41.15 11/16/2007   D     2,429   (1) 01/21/2014 Common Stock 2,429 (2) 0 D  
Incentive Stock Option $ 45.22 11/16/2007   D     2,211   (1) 01/19/2015 Common Stock 2,211 (2) 0 D  
Incentive Stock Option $ 50.79 11/16/2007   D     1,969   (1) 01/18/2016 Common Stock 1,969 (2) 0 D  
Non-Qualified Stock Option $ 53.24 11/16/2007   D     296,115   (1) 01/27/2009 Common Stock 296,115 (2) 0 D  
Non-Qualified Stock Option $ 52.17 11/16/2007   D     427,698   (1) 08/08/2010 Common Stock 427,698 (2) 0 D  
Non-Qualified Stock Option $ 55.54 11/16/2007   D     132,620   (1) 01/25/2011 Common Stock 132,620 (2) 0 D  
Non-Qualified Stock Option $ 45.88 11/16/2007   D     181,121   (1) 01/23/2012 Common Stock 181,121 (2) 0 D  
Non-Qualified Stock Option $ 41.1 11/16/2007   D     144,207   (1) 01/22/2013 Common Stock 144,207 (2) 0 D  
Non-Qualified Stock Option $ 41.15 11/16/2007   D     89,221   (1) 01/21/2014 Common Stock 89,221 (2) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BEEBE KEVIN L
ONE ALLIED DRIVE
B5F11B
LITTLE ROCK, AR 72202
      Group Pres.-Operations  

Signatures

 /s/ Beebe, Kevin L.   12/14/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These options were granted in accordance with Rule 16b-3(d) under a stock option plan. The grants have varied exercisable dates.
(2) The price of all derivative securities in Table II, Column 8 is the difference between $71.50 and the exercise price for the security listed in Column 2.

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