Shares of telecommunications giant AT&T, Inc. (T) jumped as much as 4.6% after the company released select fourth quarter and full-year 2021 subscriber numbers. The numbers were discussed at the Citi’s AppsEconomy Conference yesterday by the company’s senior executive vice president and CFO, Pascal Desroches. Shares closed the day up 2.2% at $26.21 on January 5.
For Q4, AT&T added 1.3 million total postpaid net adds to its subscriber base, including 880,000 postpaid phones. The company also added 270,000 fiber subscribers during the quarter.
For the full year 2021, the company’s total postpaid net adds stood at 3.2 million, which is a decade-high annual number for the company driven by strong network performance and a disciplined and consistent go-to-market strategy.
Additionally, the company’s total fiber net adds stood at 1 million for the fourth consecutive year. At the year-end, AT&T had an additional 2.6 million fiber customer locations, exceeding its own expectations of 2.5 million.
Similarly, the company ended the year with 73.8 million total global HBO Max and HBO subscribers, surpassing its own subscriber estimates of falling between 70 million and 73 million.
Overall, the stock has a Moderate Buy consensus rating based on 5 Buys, 4 Holds, and 1 Sell. The average AT&T price target of $29.22 implies 11.5% upside potential to current levels. Shares have lost 5.8% over the past year.
According to the AT&T Dividends forecast, the company is scheduled to pay a dividend of $0.52 per common share on February 1, 2022, to shareholders of record on January 10, 2022. The dividend carries a dividend yield of 8.16%.
TipRanks’ Insider Trading Activity shows that Insider Signal is currently Positive on AT&T, with corporate insiders buying $2.5 million shares in the last quarter.
Download the mobile app now, available on iOS and Android.
Best Buy Launches Best Buy Ads; Shares Jump 3%
General Motors Releases Q4 & 2021 Vehicle Delivery; Shares Hit All-Time High
Nvidia Impresses at the CES; Extends Partnership with TuSimple