Bank of New York Mellon Corp Has $2.18 Billion Stock Holdings in AT&T Inc. $T

Bank of New York Mellon Corp grew its stake in AT&T Inc. (NYSE:T) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,280,607 shares of the technology company’s stock after acquiring an additional 85,215 shares during the period. Bank of New York Mellon Corp’s holdings in AT&T were worth $2,182,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Front Row Advisors LLC bought a new position in AT&T in the second quarter valued at approximately $25,000. Mountain Hill Investment Partners Corp. boosted its holdings in shares of AT&T by 363.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after buying an additional 702 shares during the last quarter. Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Solstein Capital LLC grew its stake in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares in the last quarter. Finally, Curio Wealth LLC increased its holdings in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 2.0%

Shares of T stock opened at $22.97 on Wednesday. The firm has a 50 day moving average price of $24.53 and a two-hundred day moving average price of $26.37. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $162.84 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 1.28 and a beta of 0.39. AT&T Inc. has a 12-month low of $22.95 and a 12-month high of $29.79.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.8%. AT&T’s payout ratio is 36.04%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. KeyCorp reiterated an “overweight” rating on shares of AT&T in a research note on Wednesday, January 21st. UBS Group reiterated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Citigroup dropped their price objective on AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Finally, Wolfe Research downgraded AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.67.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.