5 Best Dividend Stocks Paying Over 6%

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

Number of Hedge Fund Holders: 61

Dividend Yield as of December 27: 6.06%

AT&T Inc. (NYSE:T) is an American multinational telecommunications company that provides satellite television, fixed-line telephones, mobile telephones, and internet services. On December 27, AT&T Inc. (NYSE:T) announced that it will create a joint venture with BlackRock Alternatives called Gigapower, which will reach an initial 1.5 million customer locations across the United States. The joint venture would be in addition to its present goal of achieving more than 30 million fiber locations by the end of 2025.  

On December 15, AT&T Inc. (NYSE:T) declared a $0.2775 per share quarterly dividend, in line with previous. The dividend is payable on February 1, 2023 to shareholders of record on January 10. The dividend yield on December 27 came in at 6.06%. AT&T Inc. (NYSE:T) is one of the best dividend stocks to invest in. 

Raymond James analyst Frank Louthan on December 27 maintained a Strong Buy rating on AT&T Inc. (NYSE:T) after the company announced a joint venture with BlackRock to develop fiber-to-the-home outside its 21-state footprint.

According to Insider Monkey’s data, 61 hedge funds were bullish on AT&T Inc. (NYSE:T) at the end of the third quarter of 2022, compared to 55 funds in the prior quarter. D E Shaw held the largest stake in the company, comprising nearly 14 million shares worth $214.3 million. 

In its Q2 2022 investor letter, Chartwell Investment Partners, an asset management firm, highlighted a few stocks and AT&T Inc. (NYSE:T) was one of them. Here is what the fund said:

“In the Dividend Equity accounts, the three best performers in Q2 include AT&T (NYSE:T, 2.5%), up 17.1%. AT&T completed the spin off of the WarnerMedia business (HBO, CNN, etc.), and the market seemed to like the “back-to-basics” approach. Also, the telco business is expected to do relatively well in an inflationary environment.”