An investment in AT (NYSE: T) stock looks appealing on the surface right now given its hefty dividend yield of around 7%. However, the telecom giant's substantial long-term debt load of $126.7 billion has some wondering if the dividend will get cut to help pay down those financial obligations. Management has tried to reassure investors, with CEO John Stankey stating, "We remain committed to our dividend payout level and expect its credit quality to consistently improve."

Stankey took over the top spot in the summer of 2020 and spent the last few years guiding AT through a significant transformation. He led the organization through a global pandemic. He also transitioned AT away from an entertainment empire that his predecessor spent billions of dollars building. The divestiture of those entertainment assets was completed last year.

Now that the company has returned to a pure telecommunications focus, is AT a good investment for the long haul? Let's dig into the company's current state to answer that question.

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Source Fool.com