Institutional Investors Expand Positions in AT&T

2 min read | November 24, 2024 05:37 PM PST | By Team Kalkine Media

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AT&T Inc. Sees Increased Stake from Managed Asset Portfolios LLC

Institutional Investors Continue Building Positions in AT&T

AT&T’s Growing Presence in Investment Portfolios Highlights Sector Confidence

Managed Asset Portfolios LLC has recently expanded its holdings in AT&T Inc. (NYSE:T), increasing its position by 3.5% in the third quarter, as per its latest filing with the Securities and Exchange Commission. This move has brought Managed Asset Portfolios LLC’s total ownership to 778,351 shares in the telecommunications giant, solidifying AT&T as its 21st largest holding. AT&T currently represents approximately 2.4% of the firm’s investment portfolio, showcasing its established role among the firm’s other holdings.

Several other institutional investors have also adjusted their stakes in AT&T in recent months. Bank of New York Mellon Corp, one of the major institutional shareholders, increased its position by 7.4% in the second quarter. Legal & General Group Plc followed a similar trend, raising its AT&T holdings by 2.7%. Additionally, Ameriprise Financial Inc. boosted its shares by 2.0%, underscoring a consistent level of interest in AT&T across multiple financial institutions.

Furthermore, LSV Asset Management made a 1.1% adjustment in its AT&T holdings during the second quarter, maintaining a solid presence in the telecommunications company’s shares. Pacer Advisors Inc. also contributed to this trend by raising its stake by 2.5% during the same period, adding significant volume to its portfolio.

With a strong backing from institutional investors, AT&T continues to be an appealing asset among diverse financial portfolios. As of the latest data, approximately 57.1% of AT&T’s shares are owned by institutions and hedge funds, highlighting the stock’s stability and relevance within the technology and telecommunications sector.

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