5 Best Communication Services Stocks To Invest In

In this article, we discuss 5 best communication services stocks to invest in. If you want to see more stocks in this selection, check out 13 Best Communication Services Stocks To Invest In. 

5. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 62

Verizon Communications Inc. (NYSE:VZ) is a New York-based company that offers communications, technology, information, and entertainment products and services to consumers, businesses, and public enterprises worldwide. Verizon Communications Inc. (NYSE:VZ) is one of the best communication stocks to invest in. On December 1, the company declared a quarterly dividend of $0.6525 per share, in line with previous. The dividend is distributable on February 1, to shareholders of record on January 10. 

On December 19, MoffettNathanson analyst Craig Moffett upgraded Verizon Communications Inc. (NYSE:VZ) to Market Perform from Underperform with an unchanged price target of $41. After “an unprecedented stretch of underperformance” for Verizon, the analyst believes his prior Underperform recommendation for “has likely run its course”.

According to Insider Monkey’s Q3 data, Verizon Communications Inc. (NYSE:VZ) was part of 62 hedge fund portfolios, compared to 58 funds in the last quarter. Ken Griffin’s Citadel Investment Group is the biggest position holder in the company, with 5.2 million shares worth $200.4 million. 

Here is what Mawer Investment Management has to say about Verizon Communications Inc. (NYSE:VZ) in its Q3 2022 investor letter:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged the broader market as their worlds are increasingly colliding. Companies such as Verizon (NYSE:VZ) have been impacted as wireless operators are spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”