Stock market today: S&P 500 rides Apple-led tech rally to close higher
AT&T Inc (NYSE:T). shares soared to a 52-week high, reaching a price level of $28.62, as the telecom giant continues to ride a wave of positive momentum. This peak represents a significant turnaround from its performance over the past year, with the stock witnessing an impressive 65.05% increase in value. Investors have shown renewed confidence in AT&T’s strategic direction, which has been reflected in the stock’s robust ascent. The company’s ability to adapt to the evolving telecommunications landscape and its efforts to streamline operations have been key factors contributing to the bullish sentiment among shareholders.
In other recent news, AT&T Inc. has declared a quarterly dividend of $0.2775 per share on its common stock, with payments scheduled for May 2025. The company also announced dividends on its Series A and Series C preferred stocks, reflecting its ongoing commitment to shareholder value. Meanwhile, AT&T is reportedly in exclusive negotiations to acquire Lumen Technologies’ consumer fiber operations for over $5.5 billion, though the terms have yet to be finalized. This potential acquisition aligns with AT&T’s strategy to expand its fiber network and phase out legacy copper-based services. Analysts from Bernstein have maintained an Outperform rating on AT&T, citing the potential strategic benefits of the acquisition. Similarly, Goldman Sachs has reaffirmed its Buy rating with a $29 target, highlighting AT&T’s market share gains and its fiber strategy as key growth drivers. Additionally, BT is exploring potential partnerships with AT&T and Orange to enhance its international business. These developments showcase AT&T’s ongoing strategic maneuvers in the telecommunications sector.
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