An interesting day: AT&T jumps to the $20 level

Published: January 26 2023, 03:56 GMT+0

An interesting day: AT&T jumps to the $20 level

AT&T gained $1.26 and closed above the $20 level for the first time in 6 months. Daily trading volume (73.58 million shares) was higher than the current multiday average of 33 million.

With around 10 hours until market open on the New York Stock Exchange, yesterday's session saw to it that S&P 500 performed relatively strongly, finishing the day at 4,016.22. AT&T was largely unchanged while the broader Communication Services sector added 6.58%.

Just recently, AT&T's board disclosed a quarterly dividend of 27.75 cents per share to be paid on Wednesday, February 1st for all shareholders of record up until Tuesday, January 10th. Based on current prices, the company's decision thereby provides AT&T investors with an annual dividend yield of 5.44%.

A look at other communication services stocks also showed bullish price action as T-Mobile traded at $148.07 after closing yesterday's trading day at $145.81 (up 1.55%).

While AT&T was bullish yesterday, the following communication services stocks underperformed: Alphabet dips 2.5% yesterday to close at $99.21. Meta Platforms closed at $141.5 (down 1.15%).

AT&T hit a significant low of $14.63 around 3 months ago, but has since recovered 30.96%. So far this year, it has been under-performing the S&P by 2.54%. AT&T's market cap currently stands at $145.53 billion with an average daily volume of 33 million shares.