5 Best Dividend Stocks to Buy in August

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

Number of Hedge Fund Holders: 63
Dividend Yield: 7.4%

AT&T Inc. (NYSE: T), a telecommunications company, ranks 3rd on our list of the best dividend stocks to buy in August. The company is based in the US and operates globally as the world’s largest telecommunications corporation and the largest mobile telephone services provider in the US.

Deutsche Bank has a Buy rating alongside a $37 price target on shares of AT&T Inc. (NYSE: T) as of this July, in light of the company’s positive Q2 results.

In the second quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.89, beating estimates by $0.09. The company’s revenue was $44.05 billion, up 7.56% year over year and also beating estimates by $1.32 billion.

By the end of the first quarter of 2021, 63 hedge funds out of the 866 tracked by Insider Monkey held stakes in AT&T Inc. (NYSE: T) worth roughly $2.7 billion. This is compared to 58 hedge funds in the previous quarter with a total stake value of approximately $1.045 billion.