AT&T (NYSE: T) has been busy over the past two years. The telecom giant spun off DirecTV, divested WarnerMedia through a merger with Discovery to create Warner Bros. Discovery, and sold many of its other smaller media subsidiaries and non-core assets to streamline its business. The company claimed those efforts would enable it to expand its core telecom business, generate stable revenue and earnings growth again, and reduce its long-term debt.

AT&T's stock is down only about 2% since it started trading separately from Warner Bros. Discovery on April 11. It held steady because its low valuation, high dividend, and stable growth made it a safe haven investment as interest rates continued to rise.

Image source: AT&T.

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Source Fool.com