Portfolio Stake Reductions
Allworth Financial Reduces Second-Quarter Stakes Across Five Major Holdings Including AT&T
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Key Points
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Institutional ownership remains especially high in the individual stocks: institutions own 80.56% of Applied Materials, 93.50% of Prologis and 57.10% of AT&T.
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Other investors made notable moves in Applied Materials, including West Family Investments increasing its position by 53.1%, while Nykredit A.S. established a new position valued at about $201.8 million.
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Prologis recently declared a quarterly dividend, scheduled to be paid Sept. 30 to shareholders of record as of a date specified in the company’s announcement.
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AT&T received several favorable analyst actions: Wolfe Research upgraded the stock to “outperform” with a $29 price target, while Morgan Stanley raised its target to $27 and maintained an “overweight” rating.
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The Innovator U.S. Small Cap Power Buffer ETF–April had a market capitalization of approximately $226.7 million, a 52-week range of $33.77 to $40.49 and a beta of 0.55 at the time of the report.
Allworth Financial LP trimmed holdings across five major securities in the second quarter, signaling a shift in the investment firm's portfolio strategy. The most aggressive cuts came in two exchange-traded funds: the Innovator U.S. Small Cap Power Buffer ETF–April, slashed 62.5% to 883,302 shares worth $35.2 million, and the T. Rowe Price U.S. Equity Research ETF, reduced 25.9% to 2.51 million shares valued at $119.3 million DefenseWorld.
Beyond the ETF sales, Allworth reduced stakes in individual stocks including Applied Materials (down 9.3% to $38.3 million), AT&T (down 2.9% to $23.7 million) and Prologis (down 2.0% to $31.2 million). The moves come as major institutional investors continue to dominate these securities, with Prologis leading at 93.50% institutional ownership DefenseWorld.
Allworth's Biggest Portfolio Exits
The investment firm's most dramatic reduction was the Innovator small-cap ETF position. Allworth cut this holding by nearly two-thirds, leaving just over 883,000 shares. The fund trades with a beta of 0.55, making it less volatile than the overall market. At the time of filing, the ETF had a market cap of $226.7 million and a 52-week trading range from $33.77 to $40.49 DefenseWorld.
The T. Rowe Price U.S. Equity Research ETF saw a smaller percentage cut but remained a substantial holding worth $119.3 million. This reduction suggests Allworth is paring back exposure to actively managed equity strategies. Both ETF moves hint at a portfolio rebalancing away from smaller-cap and research-focused equity strategies DefenseWorld.
Individual Stocks See Modest Trims
Applied Materials felt the smallest cut among the individual holdings at just 9.3%. Institutions own 80.56% of the chipmaker's shares. Other investors are bullish on the stock: West Family Investments boosted its position by 53.1%, while Nykredit A.S. opened a new stake valued at $201.8 million DefenseWorld.
Prologis, the real estate logistics giant, lost only 2.0% of Allworth's stake. Institutions control 93.50% of the company. Prologis recently declared a quarterly dividend scheduled for payment on Sept. 30 to shareholders of record DefenseWorld.
AT&T Gains Analyst Momentum
AT&T's 2.9% reduction by Allworth comes as Wall Street turns bullish on the telecom giant. Wolfe Research upgraded the stock to "outperform" with a $29 price target. Morgan Stanley raised its target to $27 and kept an "overweight" rating on the shares DefenseWorld.
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