5 Biggest Companies That Were Dropped From the Dow Jones Industrial Average (DJIA)

1. AT&T Inc. (NYSE: T) 

Ranking first on the list of 5 biggest companies that were dropped from the Dow Jones Industrial Average (DJIA) is AT&T. After nearly 100 years on the Dow, AT&T was removed from the index in 2015, replaced by Apple. In January, AT&T posted upbeat results for its fourth quarter. Mobility revenue in the period jumped 8%, while equipment sales increased by 28%. HBO Max topped 41 million domestic subscribers, while worldwide subscribers came close to 61 million. Recently, some media reports said that AT&T was in talks with private equity firm TPG to sell a minority stake in DirecTV.

A total of 51 hedge funds tracked by Insider Monkey held stakes in AT&T as of the end of the third quarter.

Here is what Distillate Capital said about AT&T shares in their Q2 2020 Investor Letter:

“AT&T and IBM exited the portfolio as they no longer met the quality criteria for inclusion with AT&T exceeding the debt limit and IBM falling out due to deteriorating long-term fundamental stability.”

Please also see  Short Seller Jim Chanos’ Top Picks and  15 Biggest Petrochemical Companies in the World

Follow Insider Monkey on Twitter