AT&T Sees Strategic Stake Adjustments Among Key Investors

November 12, 2024 04:48 PM AEDT | By Team Kalkine Media

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AT&T Sees Strategic Stake Adjustments Among Key Investors — Image source: Shutterstock

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Headlines

Axxcess Wealth Management reduces its AT&T stake

Institutional investors show diverse movements with AT&T shares

Key firms boost or adjust their AT&T holdings

AT&T Inc. (NYSE:T) sees notable adjustments in its investor base, with Axxcess Wealth Management LLC reducing its position in the telecom giant by 23% in the most recent quarter. The firm held 238,436 shares after selling a portion of its stake. Despite this reduction, AT&T remains a popular stock among institutional investors, with several key firms making strategic adjustments.

Axxcess Wealth Management LLC's recent filing reveals its reduced holding of AT&T shares. The firm now holds a notable position, valued at over $5 million. Other investors also made notable moves with AT&T during the same period. For instance, Strategic Financial Concepts LLC significantly increased its stake by over 200%, owning more than 130,000 shares. This reflects a growing interest from financial firms in positioning themselves with AT&T.

Further adjustments came from Riggs Asset Management Co. Inc., which increased its position by over 350%, acquiring additional shares to expand its holding. Meanwhile, American Capital Advisory LLC grew its stake by over 100%, indicating continued confidence in the telecom company. New investors also entered the scene, such as Altshuler Shaham Ltd, which bought into AT&T during the quarter.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA also raised its stake, showcasing the ongoing interest from well-established firms. With institutional ownership standing at over half of AT&T's shares, the continued shift in holdings indicates a dynamic environment around the telecom company's stock.

In conclusion, AT&T's stock remains active in institutional circles, with firms adjusting their holdings as they assess the company's long-term performance and market position.

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