5 Best 5G Stocks To Buy According To Hedge Funds

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In this article, we discuss the 5 best 5G stocks to buy according to hedge funds. If you want to read our detailed analysis of these stocks, go directly to the 11 Best 5G Stocks To Buy According To Hedge Funds.

5. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63    

Verizon Communications Inc. (NYSE:VZ) is placed fifth on our list of 11 best 5G stocks to buy according to hedge funds. The firm operates as a communications and technology firm. It is headquartered in New York. 

On July 22, investment advisory Cowen kept an Outperform rating on Verizon Communications Inc. (NYSE: VZ) stock and raised the price target to $68 from $66, noting that the firm was one of the best defensive value names on the market. 

At the end of the second quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $10.9 billion in Verizon Communications Inc. (NYSE:VZ).

In its Q1 2021 investor letter, Miller/Howard Investments, an asset management firm, highlighted a few stocks and Verizon Communications Inc. (NYSE:VZ) was one of them. Here is what the fund said:

“We sold Verizon (VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.”

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