5 Best Telecom Dividend Stocks To Buy for 2024

In this article, we discuss 5 best telecom dividend stocks to buy for 2024. If you want to read our detailed analysis of the telecom industry, its performance, and outlook for 2024, go directly to read 10 Best Telecom Dividend Stocks To Buy for 2024. 

5. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 56

American Tower Corporation (NYSE:AMT) is a leading owner, operator, and developer of multitenant communications real estate. Essentially, the company specializes in owning and leasing space on cell towers, rooftops, and other structures for wireless communications. Currently, the company offers a quarterly dividend of $1.70 per share, having raised it by 4.9% in December 2023. It has been growing its dividends for the past 13 consecutive years, which makes AMT one of the best dividend stocks in the telecom sector. The stock has a dividend yield of 3.63%, as of February 18.

As of the end of Q4 2023, 56 hedge funds in Insider Monkey’s database reported holding stakes in American Tower Corporation (NYSE:AMT), compared with 60 in the previous quarter. With nearly 7 million shares, Akre Capital Management was the company’s leading stakeholder in Q4.

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 63

Comcast Corporation (NASDAQ:CMCSA) is a global media and tech company that provides related services to businesses, including internet, voice, and television services. The company has consistently raised its dividends for the past 16 years and currently pays a quarterly dividend of $0.31 per share. It is one of the best telecom dividend stocks on our list with a dividend yield of 3.01%, as recorded on February 18.

At the end of the fourth quarter of 2023, 63 hedge funds tracked by Insider Monkey reported having stakes in Comcast Corporation (NASDAQ:CMCSA), down from 68 in the preceding quarter. These stakes have a collective value of nearly $3 billion.

3. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63

Verizon Communications Inc. (NYSE:VZ) is next on our list of the best telecom dividend stocks to buy for 2024. The multinational telecommunications company offers a quarterly dividend of $0.665 per share and has a dividend yield of 6.57%, as of February 18. The company has been rewarding shareholders with growing dividends for the past 17 consecutive years.

The number of hedge funds tracked by Insider Monkey holding stakes in Verizon Communications Inc. (NYSE:VZ) grew to 63 in Q4 2023, from 61 in the previous quarter. The collective value of these stakes is more than $1.6 billion. Among these hedge funds, AQR Capital Management was the company’s leading stakeholder in Q4.

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

Number of Hedge Fund Holders: 66

AT&T Inc. (NYSE:T) is an American telecommunications company that offers a wide range of services to consumers, businesses, and government agencies. This includes wireless services such as mobile voice and data plans, as well as broadband internet, digital TV, and home phone services. The company pays a quarterly dividend of $0.2775 per share and has been paying regular dividends to shareholders since 1995. The stock’s dividend yield on February 18 came in at 6.54%.

AT&T Inc. (NYSE:T) ended the fourth quarter of 2023 with 66 hedge fund positions, up significantly from 52 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of nearly $3 billion.

1. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 75

An American telecommunications company, T-Mobile US, Inc. (NASDAQ:TMUS) provides wireless communication services to its consumers. The company started paying dividends in November 2023 and currently pays a quarterly dividend of $0.65 per share. As of February 18, the stock has a dividend yield of 1.59%. It tops our list of the best dividend stocks from the telecom sector.

At the end of Q4 2023, 75 hedge funds in Insider Monkey’s database reported having stakes in T-Mobile US, Inc. (NASDAQ:TMUS), compared with 79 in the preceding quarter. The collective value of these stakes is over $3.8 billion.

You can also take a look at 13 Highest Yielding Dividend Stocks in the Dow and 12 Best Quality Dividend Stocks To Invest In