5 Best Telecom Dividend Stocks to Buy Now

2. Lumen Technologies, Inc. (NYSE: LUMN)

Dividend Yield: 8.08%

Lumen Technologies, Inc. (NYSE: LUMN) is a Louisiana-based telecom firm headquartered that offers communications, network services, security, cloud solutions, voice, and managed services. It has a market cap of more than $14 billion and posted more than $20 billion in revenue in December 2020. The firm has a four-year average dividend yield of 11.69% and the yield has hovered around 7% for the last ten years. The firm is ranked second on our list of 10 best telecom dividend stocks. 

At the end of the fourth quarter of 2020, 29 hedge funds out of 887 in the Insider Monkey database held stakes in Lumen, down from 31 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $772 million, up from $762 million in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Memphis-based investment firm Southeastern Asset Management held the most shares – 65 million – worth more than $634 million. Millennium Management was 2nd with 2.8 million shares worth almost $27 million.