AT&T said on June 29, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.11 annualized). Previously, the company paid $0.28 per share.
Shareholders of record as of July 10, 2023 will receive the payment on August 1, 2023.
At the current share price of $15.87 / share, the stock’s dividend yield is 6.99%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.10%, the lowest has been 5.30%, and the highest has been 10.69%. The standard deviation of yields is 1.36 (n=236).
The current dividend yield is 0.81 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.87. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.47%.
What is the Fund Sentiment?
There are 3177 funds or institutions reporting positions in AT&T. This is a decrease of 158 owner(s) or 4.74% in the last quarter. Average portfolio weight of all funds dedicated to T is 0.44%, an increase of 4.54%. Total shares owned by institutions decreased in the last three months by 10.42% to 3,682,800K shares. 
The put/call ratio of T is 0.52, indicating a bullish outlook.
Analyst Price Forecast Suggests 30.92% Upside
As of July 6, 2023, the average one-year price target for AT&T is 20.78. The forecasts range from a low of 9.09 to a high of $26.25. The average price target represents an increase of 30.92% from its latest reported closing price of 15.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AT&T is 125,417MM, an increase of 3.51%. The projected annual non-GAAP EPS is 2.62.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 220,828K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 216,643K shares, representing an increase of 1.89%. The firm decreased its portfolio allocation in T by 1.59% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 166,325K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 164,756K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in T by 2.11% over the last quarter.
Geode Capital Management holds 134,387K shares representing 1.88% ownership of the company. In it’s prior filing, the firm reported owning 133,857K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in T by 2.91% over the last quarter.
FXAIX – Fidelity 500 Index Fund holds 78,130K shares representing 1.09% ownership of the company. In it’s prior filing, the firm reported owning 77,272K shares, representing an increase of 1.10%. The firm increased its portfolio allocation in T by 1.28% over the last quarter.
Spdr S&p 500 Etf Trust holds 77,763K shares representing 1.09% ownership of the company. In it’s prior filing, the firm reported owning 79,091K shares, representing a decrease of 1.71%. The firm decreased its portfolio allocation in T by 2.17% over the last quarter.
AT&T Background Information
(This description is provided by the company.)
AT&T Inc. is a diversified, global leader in telecommunications, media and entertainment, and technology. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Latin America provides pay-TV services across 10 countries and territories in Latin America and the Caribbean and wireless services to consumers and businesses in Mexico. AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
