Warren Buffet was a major holder of Direct TV stock. Then our good friend Randall came along and offered Mr. Buffet and all the shareholders of DTV a huge premium, paid in AT&T stock, over the market value of their DTV shares (Randy just loves to over pay for his acquisitions after all).
Of course, Warren gladly took Randall's money. But then, the first thing he did the next day was dump all his newly acquired AT&T stock.
If the greatest investor in the history of capitalism won't touch this stock, is it really a wise investment? Do you want to be on the side of the smart money or do you want to follow the dumb money crowing about their high dividend yield? Large capitalization companies with a dividend this high are usually a red flag.
Excellent point, @ZCeIMGU-cgq.