In this article, we discuss the 5 best dividend stocks for inflation. If you want to read our comprehensive analysis of these stocks and the current market situation, go directly to 10 Best Dividend Stocks For Inflation.
5. AT&T Inc. (NYSE:T)
Number Of Hedge Fund Holders: 74
Dividend Yield as of June 24: 5.29%
The world’s largest telecommunications company and the largest provider of mobile telephone services in the United States, AT&T Inc. (NYSE:T) is an American multinational telecommunications holding company based in Dallas, Texas, that offers wireless voice and data plans, cloud solutions, different kinds of telephony services, and cloud solutions. The company currently offers a quarterly dividend of $0.2775 per share, with a dividend yield of 5.29%, as of June 24.
On June 16, Tigress Financial analyst Ivan Feinseth lowered the price target on AT&T Inc. (NYSE:T) to $28 from $31 and maintained a Buy rating on the shares. According to the analyst, his target drop accounts for the WarnerMedia spin-off as AT&T Inc. (NYSE:T) pivots back to its communication focus. He adds that the company’s subscriber growth and “resilient” business model will continue to drive increasing cash flow and long-term shareholder value creation.
AT&T Inc. (NYSE:T) reported earnings for Q1 2022 on April 21, posting an EPS of $0.77, above market estimates by $0.08. The $38.11 billion revenue also outperformed Street consensus estimates by $8.68 billion. Shares of the company rose after these results surpassed expectations, with the latest performance being partly attributed to the aggressive expansion of its 5G services.
At the end of March 2022, AT&T Inc. (NYSE:T) remained popular among elite funds, as 74 hedge funds tracked by Insider Monkey reported owning stakes in the company, up from 70 in the previous quarter. These stakes hold a total value of more than $4 million. Among these funds, Arrowstreet Capital was the leading stakeholder of the company in Q1.
Weitz Investment Management mentioned AT&T Inc. (NYSE:T) in its Q4 2021 investor letter. Here is what the firm has to say:
“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”