Bank of New York Mellon Corp Purchases 85,215 Shares of AT&T Inc. $T

Bank of New York Mellon Corp boosted its position in AT&T Inc. (NYSE:T) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 owned 1.08% of AT&T worth $2,182,404,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Front Row Advisors LLC acquired a new position in AT&T in the second quarter valued at approximately $25,000. Mountain Hill Investment Partners Corp. grew its holdings in AT&T by 363.7% during the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock worth $25,000 after acquiring an additional 702 shares during the period. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the last quarter. Solstein Capital LLC lifted its stake in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Finally, Curio Wealth LLC boosted its position in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Williams Trading set a $33.00 price objective on shares of AT&T in a research note on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating on shares of AT&T in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group decreased their price target on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

AT&T Price Performance

Shares of NYSE T opened at $22.97 on Wednesday. The company has a fifty day moving average price of $24.53 and a 200 day moving average price of $26.37. The firm has a market cap of $162.84 billion, a PE ratio of 7.46, a PEG ratio of 1.28 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1-year low of $22.95 and a 1-year high of $29.79.

AT&T Announces Dividend

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

About AT&T

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.