This is a high grade, safe stock. At at today's price, its nicely undervalued.
The stock is trading just above $35 today, which is a bit lower than the black endpoint above. With a blended PE of around 11.5 today, its well below the average PE over the past five years.
I think of ATT as a utility, offering a product that everyone "needs" and uses daily. Regarding the dividend, they've been raising it reliably for 30 years, and over the last 10 its averaging around a 4% increase every year, much like a utility.
There are dozens of articles on SA about T, here are a few recent ones:
Limit order executed at $35.17, for a 1/3 size position in the portfolio.