15 Dow Stocks Listed and Ranked By 2022 Hedge Fund Bullishness Index

14. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 69

Verizon Communications Inc. (NYSE:VZ) is a communications services company based in New York. It was recently named in Wells Fargo’s recession stock portfolio. Verizon boasts 18 years of consistent dividend increases, with its payments equating to a 5.04% yield as of July 1.

Hedge fund sentiment around Verizon Communications Inc. (NYSE:VZ) was improving in the first quarter of 2022. 69 hedge funds owned positions in the company at the end of March, with a collective price tag of $4.12 billion. That was in comparison to 63 hedge funds in the previous quarter with $10.9 billion worth of positions. Fisher Asset Management and Renaissance Technologies were prominent stakeholders of Verizon Communications Inc. (NYSE:VZ) in the first quarter, with stakes worth $855 million and $540 million respectively.

ClearBridge Investments discussed the prospects of Verizon Communications Inc. (NYSE:VZ) in its Q4 2021 investor letter. Here’s what it said:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We added to more defensive areas of the portfolio like telecom (Verizon). While the next month or two will likely prove choppy on account of the Omicron variant, we believe that Omicron, like Delta, represents a speed bump on the way to recovery rather than a true change in course. We see strong economic momentum continuing in 2022 and we expect interest rates to rise. After a decade of remarkably low rates, we would not be surprised if this change in direction is accompanied by some fits and starts in the markets. With our emphasis on pricing power, purposeful sector exposure, valuation discipline, and a strong dividend profile, we believe we are well-positioned for the year ahead.”