In this article, we will be looking at the 5 best safe blue chip dividend stocks. If you want to see our detailed analysis of dividend investing, go directly to the 10 Best Safe Blue Chip Dividend Stocks.
5. AT&T Inc. (NYSE: T)
Number of Hedge Fund Holders: 63
Number of Years of Consistent Dividend Growth: 36
Dividend Yield: 7.36%
AT&T Inc. (NYSE: T) is a communication services company providing telecommunication, media, and technology services across the world. The company ranks 5th on our list of the best safe blue chip dividend stocks.
This July, Tigress Financial analyst Ivan Feinseth commented on AT&T Inc.’s (NYSE: T) recent WarnerMedia sale, stating that the transaction can be expected to bring in higher gains in return on capital alongside higher profitability for AT&T Inc. (NYSE: T). Feinseth has thus reiterated his Buy rating on the company’s shares alongside the initiation of a 12-month target price of $36.
In the first quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.86, beating estimates by $0.08. The company’s revenue was $43.94 billion, up 2.71% year over year and beating estimates by $1.27 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 $2.70 billion. This is compared to 58 hedge funds in the previous quarter with stakes worth about $1.045 billion.