AT&T Inc.'s stock held steady near $28.35 in late February 2026, closing at $28.35 on February 24 after a 0.60% decline, as the telecommunications giant builds on record 2025 results, aggressive fiber network growth, and a commitment to return more than $45 billion to shareholders through 2028 via dividends and buybacks.

Citing regulatory uncertainty around the classification of broadband Internet, AT&T said Wednesday it will pause capital investments in 100 cities.
AT&T

As of February 24, 2026, AT&T (NYSE: T) traded in a session range of $28.19 to $28.80 with volume of approximately 34.5 million shares. The shares have risen about 20.9% over the past 30 days and 6% over the past 12 months, trading near the upper end of their 52-week range from $22.95 to $29.79. Market capitalization stands around $198-202 billion, reflecting investor confidence in AT&T's strategic shift toward fiber broadband and 5G services.

The momentum stems from AT&T's fourth-quarter and full-year 2025 earnings reported January 28, 2026. The company posted strong financial performance, with revenue and earnings exceeding expectations in key areas. Adjusted EPS for Q4 reached $0.52, topping consensus estimates of $0.46 by $0.06. Full-year results showed improved profitability, driven by fiber subscriber additions, broadband growth, and cost discipline following the WarnerMedia spinoff.

AT&T highlighted significant progress in its fiber strategy. The company completed the acquisition of Lumen Technologies' Mass Markets fiber business in early February 2026, adding access to more than 1 million fiber subscribers and expanding its footprint in high-growth markets. This deal strengthens AT&T's position as a leading fiber provider, with plans to accelerate deployment and capture additional broadband demand. Recent spectrum licenses and fiber assets have also earned recognition, contributing to a 20.18% stock return over the past month in some analyses.

Management guided for solid growth in 2026, projecting mid-single-digit broadband subscriber increases, continued margin expansion, and strong free cash flow. The board reaffirmed its commitment to shareholder returns, planning to distribute more than $45 billion between 2026 and 2028 through dividends and share repurchases. The quarterly dividend remains at $0.2775 per share, yielding approximately 3.9-4%, with ex-dividend dates supporting consistent income for investors.

AT&T to Release First-Quarter 2026 Earnings on April 22, with a conference call scheduled for 8:30 a.m. ET that day. The release and materials will be available on the investor relations website. Analysts anticipate updates on fiber rollout progress, service revenue trends, and any refinements to full-year guidance amid competitive pressures from T-Mobile and Verizon.

Wall Street sentiment leans positive. Consensus among analysts rates T a Buy or Moderate Buy, with average 12-month price targets around $30.33—implying modest upside from current levels. Some firms highlight AT&T's undervaluation relative to peers, citing fiber expansion, debt reduction, and reliable dividends as key drivers. Bernstein maintained a Buy rating in mid-February, emphasizing network investments and potential for earnings growth.

Challenges include debt levels from past acquisitions, competition in wireless and broadband, and regulatory scrutiny on spectrum and pricing. However, AT&T's focus on high-margin fiber services, 5G coverage, and cost efficiencies has improved its financial profile significantly since the media spinoff.

Upcoming catalysts include Q1 2026 earnings in late April, where subscriber metrics, broadband penetration, and capital spending updates will be scrutinized. Positive execution on fiber goals and shareholder returns could sustain momentum; any slowdowns in growth or macro headwinds might introduce volatility.

AT&T remains a cornerstone of U.S. telecommunications, with its vast network, fiber push, and dividend reliability appealing to income-focused investors. As the company advances its broadband strategy and returns capital aggressively, shares appear positioned for steady performance in 2026 amid a stabilizing macro environment.