5 Best Stocks To Buy For Income

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

Number of Hedge Fund Holders: 61

Dividend Yield as of February 14: 5.80%

The world’s largest telecommunications company by revenue and the third largest provider of mobile telephone services in the US, AT&T Inc. (NYSE:T) is an American multinational telecommunications holding company that provides telecommunications, media, and technology services worldwide.

On January 16, Cowen analyst Gregory Williams raised the price target on AT&T Inc. (NYSE:T) to $25 from $24 and maintained a Market Perform rating on the shares of the company.

On December 15, AT&T Inc. (NYSE:T) declared a quarterly dividend of $0.2775 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 12 years. As of February 14, the stock has a dividend yield of 5.80%.

At the end of Q3 2022, 61 hedge funds tracked by Insider Monkey owned stakes in AT&T Inc. (NYSE:T), up from 55 a quarter earlier. The collective value of these stakes is over $1.53 billion.

Chartwell Investment Partners mentioned AT&T Inc. (NYSE:T) in its Q2 2022 investor letter. Here is what the firm has to say:

“In the Dividend Equity accounts, the three best performers in Q2 includes AT&T (NYSE:T, 2.5%), up 17.1%. AT&T completed the spin 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.”