For many years, AT (NYSE: T) was a dependable dividend stock. But recently, investors soured on the stock as a potential income investment.

The company's acquisition of Time Warner in 2018 and its ambitions of being a big global media company didn't pan out and created a lot of confusion around where the company was headed. The company even ended up reducing its dividend payment in 2022. And even as WarnerMedia is now part of Warner Bros. Discovery and AT is back to focusing on telecom, investors appear understandably hesitant to give AT stock much of a chance. With interest rates on the rise, investors looked elsewhere, like Treasury bonds, to generate recurring income.

But in recent months, AT's stock has been on the rise again. Is this a sign that investors are finally coming back? Is now the time to buy this beaten-down dividend stock?

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Source Fool.com