Bank of New York Mellon Corp recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
The Bank of New York Mellon can be traced back as far as the Bank of New York, founded by Alexander Hamilton in 1784. Under the watch of the first U.S. Secretary of the Treasury, the bank became the first corporate stock traded on the New York Stock Exchange and the depositary for the nation’s first trust. Throughout the next two centuries, the bank would expand and grow, merging with the New York Life Insurance and Trust Company, the Fifth Avenue Bank, and the Empire Trust Company, among others, even continuing to profit and pay dividends throughout the Great Depression. Mellon Financial was founded by Thomas Mellon and his sons in 1869. The bank invested in numerous industrial firms in its early years, with the Gulf Oil and Alcoa investments considered to be some of its most successful. Similar to the Bank of New York, Mellon Financial, later renamed to Mellon Bank, N.A., also went through a series of mergers with Union Trust Company and Philadelphia Savings Fund Society, among others. In 2007, the Bank of New York and Mellon Financial Corporation merged, finally arriving at the name it is now known as. Following patterns of its previous expansions, the Bank of New York Mellon acquired Insight Investment and PNC Financial Services’ Global Investment Servicing Inc. in 2009 and 2010, respectively. The bank recovered very quickly from the financial crisis of 2007 to 2010 and, by 2013, the bank focused on a branding campaign to increase global awareness, adopting the slogan “The Investment Company for the World.” BNY Mellon currently operates in 35 countries, employing over fifty thousand people. The company had almost $15 billion in revenue in 2014 with total assets totaling $385.2 billion. BNY Mellon operates through two segments, with the Investment Services making up about 72% of the company’s revenue and the Investment Management making up the rest. With $1.7 trillion assets under management and $28.5 trillion assets under custody or administration, it is the largest deposit bank in the world.
As of the latest 13F report, the guru’s equity portfolio contained 4522 stocks valued at a total of $412.80Bil. The top holdings were AAPL(4.56%), MSFT(4.36%), and AMZN(2.11%).
According to GuruFocus data, these were Bank of New York Mellon Corp’s top five trades of the quarter.
iShares Core S&P 500 ETF
During the quarter, Bank of New York Mellon Corp bought 1,229,595 shares of ARCA:IVV for a total holding of 8,832,996. The trade had a 0.11% impact on the equity portfolio. During the quarter, the stock traded for an average price of $397.41.
On 12/08/2022, iShares Core S&P 500 ETF traded for a price of $397.95 per share and a market cap of $304.31Bil. The stock has returned -14.33% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Core S&P 500 ETF has a price-earnings ratio of 19.66 and a price-book ratio of 3.62.
Microsoft Corp
Bank of New York Mellon Corp reduced their investment in NAS:MSFT by 1,904,485 shares. The trade had a 0.11% impact on the equity portfolio. During the quarter, the stock traded for an average price of $264.05.
On 12/08/2022, Microsoft Corp traded for a price of $247.4 per share and a market cap of $1,844.24Bil. The stock has returned -25.38% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 26.66, a price-book ratio of 10.63, a price-earnings-to-growth (PEG) ratio of 1.29, a EV-to-Ebitda ratio of 17.65 and a price-sales ratio of 9.18.
The price-to-GF Value ratio is 0.79, earning the stock a GF Value rank of 9.
iShares Short-Term National Muni Bond ETF
During the quarter, Bank of New York Mellon Corp bought 3,461,772 shares of ARCA:SUB for a total holding of 6,032,737. The trade had a 0.09% impact on the equity portfolio. During the quarter, the stock traded for an average price of $104.12.
On 12/08/2022, iShares Short-Term National Muni Bond ETF traded for a price of $104.48 per share and a market cap of $10.18Bil. The stock has returned -1.83% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Medtronic PLC
During the quarter, Bank of New York Mellon Corp bought 4,816,172 shares of NYSE:MDT for a total holding of 19,374,686. The trade had a 0.09% impact on the equity portfolio. During the quarter, the stock traded for an average price of $89.87.
On 12/08/2022, Medtronic PLC traded for a price of $77.79 per share and a market cap of $103.47Bil. The stock has returned -28.47% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Medtronic PLC has a price-earnings ratio of 24.16, a price-book ratio of 1.99, a EV-to-Ebitda ratio of 13.22 and a price-sales ratio of 3.37.
The price-to-GF Value ratio is 0.70, earning the stock a GF Value rank of 10.
Apple Inc
Bank of New York Mellon Corp reduced their investment in NAS:AAPL by 2,428,464 shares. The trade had a 0.08% impact on the equity portfolio. During the quarter, the stock traded for an average price of $156.95.
On 12/08/2022, Apple Inc traded for a price of $142.65 per share and a market cap of $2,269.29Bil. The stock has returned -18.00% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 23.35, a price-book ratio of 44.86, a price-earnings-to-growth (PEG) ratio of 1.34, a EV-to-Ebitda ratio of 17.34 and a price-sales ratio of 5.91.
The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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