Early Retirement Portfolio: 5 Stocks to Live Off Dividends

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

Number of Hedge Fund Holders: 66
Dividend Yield as of January 27: 8.62%

AT&T Inc. (NYSE:T), an American telecommunications holding company, holds a 35-year track record of consistent dividend growth, making it one of the best dividend stocks for retirement. The company pays a quarterly dividend of $0.52 per share, with a dividend yield of 8.62%.

Though AT&T Inc. (NYSE:T) plunged recently due to the slower user growth in the wireless space, analysts still remain bullish on the company as it expects postpaid phone and fiber growth in the coming quarters. Recently, Barclays set a $30 price target on the stock, while maintaining an Equal Weight rating on the shares. In Q3, AT&T Inc. (NYSE:T) added 928,000 postpaid phones, while the total number of prepaid phones added during the quarter stood at 249,000.

As of Q3 2021, 66 hedge funds tracked by Insider Monkey held stakes in AT&T Inc. (NYSE:T), compared with 68 in the previous quarter. The total value of these stakes is over $3.2 billion, up noticeably from $2.8 billion in Q2. Among these hedge funds, Citadel Investment Group was the company’s largest shareholder in Q3, owning over 34.7 million shares.

Nelson Capital Management mentioned AT&T Inc. (NYSE:T) in its Q1 2021 investor letter. Here is what the firm has to say:

“Nelson Capital stayed busy in the first quarter, making several adjustments within our core portfolio. In the communication services sector, we sold AT&T (tkr: T). Over the years, AT&T has made several poor acquisitions, especially in the content realm, leaving the company saddled with debt and unable to change directions.”

You can also take a look at 10 Best Cryptocurrencies to Buy for Early Retirement and 15 Dividend Stocks People Buy for Early Retirement

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