Core Viewpoint - AT&T Inc. is highlighted as a strong investment opportunity for 2026, with UBS maintaining a Buy rating and a price target of $31, driven by solid Q4 results and positive growth guidance [1]. Financial Performance - For Q4 2025, AT&T reported adjusted earnings of $0.52 per share, exceeding analyst expectations of $0.46, attributed to over $1 billion in cost savings and growth in its convergence strategy [2]. - Quarterly revenues reached $33.5 billion, a 3.6% increase year-over-year, surpassing Wall Street's expectations of approximately $32.9 billion [3]. - The adjusted EBITDA for the quarter increased by over 4% year-over-year, with margins expanding by 20 basis points, driven by service revenue growth in 5G, fiber, and fixed wireless offerings [3]. Annual Performance - For the full fiscal year, adjusted earnings were $2.12 per share, nearly 9% higher than 2024, and free cash flow totaled $16.6 billion, near the upper end of management's target range [4]. - Management projected adjusted earnings for 2026 to be between $2.25 and $2.35 per share, with free cash flow expected to exceed $18 billion, supported by anticipated organic growth in advanced home internet revenues of over 20% annually through 2028 [5]. Business Overview - AT&T provides a range of telecommunications, media, and technology services, including wireless and wireline communications, broadband, and pay-TV offerings across the United States [5].

Company Overview - Verizon Communications is a leading provider of telecommunications and technology services, offering a diversified portfolio that includes wireless and wireline communications, internet access, video, voice services, and network solutions to consumers, businesses, and government entities worldwide [5][6] - The company generated revenue of $137.00 billion and a net income of $18.19 billion over the trailing twelve months (TTM) [4] - Verizon's current dividend yield stands at 6.81%, making it attractive for income investors [4][8] Recent Developments - Oak Harvest Investment Services initiated a new position in Verizon by purchasing approximately 243,369 shares, valued at $10.7 million, as of October 17, 2025 [2][3] - This new investment represents 1.2% of Oak Harvest's total reportable assets of $857.35 million as of September 30, 2025 [3] - Verizon's share price was $40.55 on October 17, 2025, reflecting a 7.8% decline over the past year, underperforming the S&P 500 by 21.6 percentage points [3] Financial Performance - Verizon reported a 5% year-over-year revenue growth in Q2, reaching $34.5 billion [7] - The company ended the first half of 2025 with free cash flow (FCF) of $8.8 billion, an increase from $8.5 billion in 2024 [7] - Verizon raised its FCF outlook for the year to between $19.5 billion and $20.5 billion, which is crucial for sustaining its dividend payments [8] Investment Appeal - The combination of a high dividend yield of 6.8% and an attractive price-to-earnings ratio of around 9 makes Verizon's stock a compelling investment opportunity, particularly for income-focused investors [9]