Bank of New York Mellon Corp Purchases 5,649,277 Shares of AT&T Inc. (NYSE:T)

Bank of New York Mellon Corp boosted its position in AT&T Inc. (NYSE:T) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,592,594 shares of the technology company’s stock after buying an additional 5,649,277 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.19% of AT&T worth $1,948,943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB increased its position in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after acquiring an additional 1,161,152 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of AT&T by 1.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 310,190 shares of the technology company’s stock worth $6,824,000 after purchasing an additional 3,972 shares during the period. Mediolanum International Funds Ltd raised its position in shares of AT&T by 7.1% during the third quarter. Mediolanum International Funds Ltd now owns 53,976 shares of the technology company’s stock valued at $1,180,000 after buying an additional 3,561 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of AT&T by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 476,079 shares of the technology company’s stock valued at $10,393,000 after buying an additional 85,699 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of AT&T by 1.9% in the third quarter. Arkadios Wealth Advisors now owns 71,192 shares of the technology company’s stock valued at $1,566,000 after buying an additional 1,294 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on T shares. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Trading Up 0.4 %

Shares of T opened at $26.74 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $191.91 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 3.00 and a beta of 0.59. The stock has a fifty day moving average price of $23.58 and a two-hundred day moving average price of $22.38. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.13.

AT&T (NYSE:T) last released its quarterly earnings results 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 return on equity of 13.97% and a net margin of 8.95%. Analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.15%. AT&T’s payout ratio is 74.50%.

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.