Sun Sep 15 14:25:15 UTC 2024: ## DekaBank Cuts AT&T Holdings, While Other Investors Boost Stakes
**New York, NY** – DekaBank Deutsche Girozentrale, a German bank, trimmed its holdings in AT&T (NYSE: T) by 0.9% in the second quarter, according to recent SEC filings. The bank now owns 2,381,738 shares of AT&T stock, valued at $44,750,000.
This move comes as other institutional investors and hedge funds have been adjusting their positions in the telecommunications giant. Notably, Norges Bank acquired a substantial new stake in AT&T in the fourth quarter, valued at approximately $1,118,288,000. Kodai Capital Management LP also bought a new stake during the same period, worth $152,109,000.
Meanwhile, several institutions increased their holdings. Bank of New York Mellon Corp boosted its position by 7.4%, Point72 Asset Management L.P. upped its stake by 120.8%, and Thornburg Investment Management Inc. raised its holdings by 22%.
These developments reflect a mixed sentiment towards AT&T, with some investors seeking to capitalize on potential growth while others are taking a more cautious approach.
The company’s recent financial performance has been a key factor in investor decisions. AT&T reported earnings per share of $0.57 for the second quarter, meeting analysts’ expectations. However, revenue came in slightly below estimates at $29.80 billion.
The stock currently enjoys a “Moderate Buy” rating from analysts, with an average price target of $22.31.
Despite the recent market activity, AT&T remains a significant player in the telecommunications industry, offering services worldwide. The company’s dividend, currently yielding 5.13%, is an attractive factor for many investors.
This news comes at a time of increasing volatility in the technology sector, and investors will be watching to see how AT&T navigates the evolving landscape in the coming months.
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