NEW YORK, June 27, 2026, 14:04 EDT
- AT&T Inc. NYSE:T climbed 1.34% to $22.72 on Friday. Nearly 85.1 million shares traded, close to double the 65-day average volume.
- AT&T picked up 10 AWS-3 spectrum licenses, paying $120.8 million. Verizon Communications NYSE:VZ spent much more, with a $3.16 billion bid.
- Next up for the stock is the July 10 record date for the common-share dividend. The company will report second-quarter results on July 22.
- U.S. stock markets don’t open on weekends, making this a look back at last week and a look ahead.
AT&T Inc. NYSE:T closed the week with a surge in trading, a new but manageable spectrum payment, and its dividend record date set for in less than two weeks.
The stock finished Friday at $22.72, up 30 cents on the day. That put it 2.8% higher than where it ended Monday, but the price remains 23.7% under its 52-week peak of $29.79. It’s just 3.3% above its June 18 low of $21.99. Trading volume hit 85.1 million shares Friday, well ahead of the 65-day average of 42.8 million.
Verizon Communications NYSE:VZ spent $3.16 billion for 82 licenses in the FCC auction. T-Mobile US NASDAQ:TMUS paid $277.8 million for 102 licenses. AT&T picked up 10 licenses for $120.8 million. SpaceX NASDAQ:SPCX got two licenses, paying $8.49 million.
AT&T’s spend came to about 3.8% of Verizon’s. The stock trades at 7.62 times earnings and has a dividend yield of 4.89%. Not spending as much on new spectrum could help its cash return to shareholders. But with Verizon picking up the bigger block, there are network questions.
Roger Entner, founder of Recon Analytics, told Light Reading AT&T was “very selective and judicious” in the auction. Craig Moffett, analyst at MoffettNathanson, said Verizon’s gains don’t give it a national license but “add a meaningful amount of capacity.” For SpaceX’s small purchase, Entner said, “The big takeaway is that Elon is coming.” Light Reading
AT&T is seeing its shares treated less as a growth play and more as a cash-flow vehicle. A reduced spectrum bill keeps that cash-flow story intact, at least for now. But underspending on spectrum could become an issue down the road if it allows competitors to boost service in important markets.
AT&T moved forward on its dividend, putting it ahead of earnings. On June 24, the board declared a $0.2775 quarterly payout on common shares, with payment set for Aug. 3. The record date for common shares is July 10, according to the company’s calendar.
Free cash flow stays in focus for AT&T. The company reported $2.5 billion in first-quarter free cash flow in April, off from $3.1 billion the prior year, but is sticking with its 2026 target of over $18 billion. AT&T is also keeping its annualized common dividend at $1.11 and its $8 billion share buyback plan for this year.
July 22 is the next big date. CFO Pascal Desroches told investors on the April call that both service revenue and EBITDA should “accelerate gradually” through the rest of the year. CEO John Stankey, addressing the move away from big device subsidies, said, “I don’t think this is throwing the switch.” AT&T Investor Relations
AT&T didn’t get support from the wider market. The S&P 500 fell 2% this week and the Nasdaq dropped 4.6%. The Dow managed a 0.6% gain. AT&T’s move up was tied to yield, discipline at auction, and coming off a low base, not a broad rally.
Watch $21.99 and $22.72 this week. $21.99 is the 52-week low, while $22.72 marks where shares finished and hit their high on Friday. The related company dates in play are July 10 and July 22.
Related articles: NYSE:VZ
