7. AT&T (T - Get Report), a holding company, provides telecommunications services in the U.S. and worldwide. The company structures its operations into four segments: wireless (including voice and data), wire line (landline voice and data), advertising solutions (Yellow and White Pages directories) and customer information services.
During the first quarter of 2011, the company's consolidated revenue increased almost $700 million to $31.2 billion. Diluted earnings per share rose to 57 cents from 41 cents in the same quarter of the prior year. Total wireless subscribers were a record 2 million, with smartphone sales reaching more than 5.5 million. During the quarter, AT&T added 1.6 million emerging device connections to exceed the 12 million devices mark.
Convergys (CVG) recently said it would sell its holdings in cellular partnerships located in the Cincinnati metropolitan area to AT&T in a cash transaction of approximately $320 million. AT&T expects to close the sale by early July 2011.Moreover, the company has unveiled plans to invest $1 billion in network-based cloud, mobility and network sourcing solutions in 2011. The company will deploy the services across the board to businesses ranging from small to big multinational companies, government agencies, institutions and industries. Of the 32 analysts covering the stock, 59% rate it a buy and the rest rate it a hold. The stock has no sell ratings. On average, analysts surveyed by Bloomberg have a $32.55 12-month price target on the stock, which is about 5.1% higher than recent levels.
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