AT&T Stock Plunges 6.27% as Legal & General Cuts Stake

On April 7, 2025, AT&T's stock experienced a significant drop of 6.27% in pre-market trading, reflecting a notable decline in investor sentiment.

One of the key factors contributing to the decline in AT&T's stock price is the reduction in holdings by Legal & General Group Plc. The company decreased its stake in AT&T by 19.1% during the fourth quarter, which may have influenced market perception and led to a sell-off.

Despite the recent drop, Citi analysts maintain a Buy rating for AT&T with a price target of $32. They believe that the stock's current valuation partially captures the improved fundamental outlook of the company, suggesting that the recent decline may present a buying opportunity for long-term investors.

AT&T's strategic investments in 5G and fiber internet networks have been instrumental in driving growth and enhancing its competitive position in the telecommunications sector. These investments, combined with the company's strong dividend policy, continue to attract investors seeking stable returns.