AT&T Volume Slumps to 130th in Market Activity as Institutional Investors Split on Holdings Ahead of Earnings Reports

On August 25, 2025, AT&T (T) traded with a volume of 0.56 billion shares, a 43.49% decline from the prior day, ranking 130th in market activity. The stock closed marginally lower by 0.10%, reflecting subdued investor activity. Institutional activity highlighted mixed positioning, with MetLife Investment Management LLC reducing its stake by 1.8% to 1.86 million shares, valued at $52.7 million. Conversely, several firms increased holdings, including DigitalBridge Group Inc., which boosted its position by 14.6% to 2.87 million shares, and Wedmont Private Capital, which added 7.9% to 123,247 shares. These adjustments underscore divergent investor sentiment ahead of earnings reports and strategic developments.

Recent analyst activity further shaped the landscape. Hsbc Global Res downgraded AT&T to "hold" from "strong-buy," while Morgan Stanley raised its price target to $32, reflecting cautious optimism. AT&T’s latest quarterly earnings exceeded estimates, reporting $0.54 per share on $30.85 billion in revenue, with analysts projecting 2.14 EPS for the current fiscal year. The company also reaffirmed its dividend policy, maintaining a 3.9% yield, though analysts remain split on valuation metrics, with a consensus target price of $30.21.

Short interest data indicated moderate bearish positioning, with 1.31% of AT&T’s float sold short, a decline from previous periods. This aligns with broader telecom sector trends, where competitors like Verizon and T-Mobile also saw mixed short-term positioning. Institutional ownership remains concentrated, with 57.10% held by funds, highlighting the sector’s appeal for long-term value seekers.

The backtested strategy of purchasing the top 500 volume-driven stocks for one-day holding from 2022 to 2025 yielded a 31.52% total return, averaging 0.98% daily. While the Sharpe ratio of 0.79 suggests favorable risk-adjusted performance, volatility remained pronounced, with daily swings ranging from -4.47% to 4.95%. This underscores the inherent challenges of momentum-based trading in a sector sensitive to macroeconomic shifts and regulatory dynamics.