What's Going On With AT&T Shares

AT&T Inc. T shares are trading lower by 2.9% to $14.94 Monday afternoon. Weakness might be due to the U.S. 10-year Treasury yield crossing 5%, which could drive a rotation out of dividend-paying stocks.

AT&T stock is also pulling back following last week's strength. The company last week reported better-than-expected third-quarter financial results.

What Happened With AT&T Last Week?

AT&T last quarter outperformed expectations with operating revenues of $30.35 billion, a 1% YoY increase, and an adjusted EPS of 64 cents, beating the consensus estimate of 59 cents.

The strong results were driven by revenue growth in the Mobility, Mexico and Consumer Wireline segments, although they were partly offset by decreased revenues in the Business Wireline segment.

Specifically, the Mobility segment saw 494,000 total phone net additions, including 468,000 postpaid phone net additions and 26,000 prepaid phone net additions....Read More

According to data from Benzinga Pro, AT&T has a 52-week high of $21.53 and a 52-week low of $13.43.