AT&T also provides data, voice, security, cloud solutions, outsourcing and managed and professional services, as well as customer premises equipment for multinational corporations, small and midsized businesses, and governmental and wholesale customers. In addition, it offers broadband fiber and legacy telephony voice communication services to residential customers.
The company markets its communications services and products under the AT&T, Cricket, AT&T Prepaid and AT&T Fiber brand names. Its Latin America segment provides wireless services in Mexico and video services in Latin America. This segment markets its services and products under the AT&T and Unefon brand names.
Recent negative press over the potential clean-up of lead landlines has caused the stock to be crushed. However, with huge cash flow and a solid customer base, this could be a massive total return win as the dividend remains safe.
The dividend yield here is 7.36%. Wells Fargo has set a $20 price objective, and the consensus target is $18.58. AT&T stock closed on Wednesday at $15.55.
Truist Financial
This company was created through a merger of SunTrust Bank and BB&T in 2019. Truist Financial Corp. (NYSE: TFC) provides banking and trust services in the southeastern and mid-Atlantic United States. Its deposit products include non-interest-bearing checking, interest-bearing checking, savings and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
The company also provides funding; asset management; automobile lending; bankcard lending; consumer finance; home equity and mortgage lending; insurance, such as property and casualty, life, health, employee benefits, workers compensation and professional liability, surety coverage, title, and other insurance products; investment brokerage; mobile/online banking; and payment, lease financing, small business lending, and wealth management/private banking services.
In addition, the company offers association, capital market, institutional trust, insurance premium and commercial finance, international banking, leasing, merchant, commercial deposit and treasury, government finance, commercial middle market lending, small business and student lending, floor plan and commercial mortgage lending, mortgage warehouse lending, private equity investment, real estate lending and supply chain financing services. It provides corporate and investment banking, retail and wholesale brokerage, securities underwriting and investment advisory services.
Investors receive a 7.25% dividend. Truist Financial stock has a $39 target price at Citigroup. The consensus target is $36.08, and shares closed at $28.37 on Wednesday.
These five top blue chip companies have struggled this year for a variety of reasons. While not as exciting as an AI chipmaker, they have paid significant dividends for years and likely will continue to do so. Their value and total return proposition offer investors who are more conservative some quality ideas for the rest of this year and in 2024.
Originally published at 24/7 Wall St.
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