Bank of New York Mellon Corp Trims Holdings in AT&T Inc. (NYSE:T)

Bank of New York Mellon Corp lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,906,720 shares of the technology company's stock after selling 3,685,874 shares during the period. Bank of New York Mellon Corp owned 1.14% of AT&T worth $2,316,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $27,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of AT&T in the 4th quarter valued at $30,000. Finally, REAP Financial Group LLC boosted its stake in shares of AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after purchasing an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Tigress Financial upped their price target on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Oppenheimer upped their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.90.

AT&T Trading Up 0.1%

NYSE T traded up $0.02 during trading on Friday, hitting $28.33. The company had a trading volume of 21,085,177 shares, compared to its average volume of 36,496,958. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The company has a market cap of $203.82 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. The company's fifty day moving average is $27.79 and its 200-day moving average is $26.17.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 68.10%.

AT&T Profile

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.