Directly following a divvy payout this stock has either stayed flat or went up 50% of the time. But you said you want to be in for long term. My suggestion is to wait for the correction that is due and buy in at $34.50,, (if it happens) ,, I'm wrong about 70% of the time,, so maybe you should buy now just in case it skips the correction.
Answer the following questions ? Do you believe the stock will go up from the current price ? Why do you think it will go up in price? If so, buy today and get the Dividend. Buy the stock if you think the company will grow and continue paying a good dividend. If the market corrects, investors will look into other investments for profit potential on the Nasdaq and maybe small caps as well but, T is a good long term investment ! It may pull back a bit but, you will get a nice dividend while you wait. This is a solid company ! I hope this helps !