Analysts Are Recommending These 5 Dividend Stocks

2. AT&T Inc. (NYSE:T)

Dividend Yield as of January 14: 7.65%

Number of Hedge Fund Holders: 66

AT&T Inc. (NYSE:T) is a Texas-based multinational conglomerate holding company which is the largest American provider of telecommunications and mobile telephone services.

Citi analyst Michael Rollins on January 11 added AT&T Inc. (NYSE:T) to the firm’s “positive catalyst watch list” while keeping a Buy rating on the shares with a $29 price target. The analyst observes the potential for consensus expectations to rise for postpaid phone net adds and progress towards closing the deal with Discovery could potentially reduce the valuation gap between AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ). 

AT&T Inc. (NYSE:T) is also a leading provider of 5G services in the United States. On January 4, AT&T Inc. (NYSE:T) paired with NVIDIA Corporation (NASDAQ:NVDA) on a cloud gaming cross-promotion, where the former’s 5G users will get subscriptions to NVIDIA Corporation (NASDAQ:NVDA)’s GeForce NOW, a popular cloud gaming service.

In addition to that, AT&T Inc. (NYSE:T) on January 14 was a winning bidder at the 5G spectrum auction of flexible-use licenses from The Federal Communications Commission, with the company spending $9.1 billion to secure rights to use the airwaves.

Among the hedge funds monitored by Insider Monkey in the third quarter, 66 funds were bullish on AT&T Inc. (NYSE:T), holding stakes worth $3.2 billion. Billionaire Ken Griffin’s Citadel Investment Group is the largest AT&T Inc. (NYSE:T) stakeholder, with 34.7 million shares amounting to $939.5 million. 

On December 16, AT&T Inc. (NYSE:T) declared a quarterly dividend per share of $0.52, in line with previous. The dividend is payable on February 1, to shareholders of record on January 10.