Investors have pushed AT&T down close to 52-week lows.
But, as is often the case, it is much ado about nothing.
In fact, the company has made solid progress over the years. From its place as the country's second-largest wireless carrier behind Verizon Communications to becoming its biggest pay-television provider, thanks to its DirecTV buy, AT&T has made huge improvements to its business.
AT&T may no longer be growing as fast as T-Mobile US, but analysts expect the company to sport more than 8% earnings growth on an average annual basis for the foreseeable future, outshining larger peers such as Verizon Communications.
Shares of AT&T, trading at an enterprise value to earnings before interest, taxes, depreciation and amortization ratio of 6.4 times, presents an opportunity to invest in the future of media and telecom.
In fact, this dividend aristocrat with a 31-year track record of payouts, offers a solid blue-chip yield of 5.22%. Unlike the high but unsafe yields of CenturyLink and Frontier Communications, AT&T's dividend is secure and stable, well supported by $15 billion-plus in free cash flow.