5 Best Communication Stocks To Invest In

4. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 66

Barclays analyst Kannan Venkateshwar recently upgraded AT&T Inc. (NYSE:T) stock to Overweight from Equal Weight with a price target of $30, noting that telecom companies in the US were better positioned than cable firms due to take advantage of wireless trends in 2022. AT&T Inc. (NYSE:T) is increasing spend towards the rollout of 5G services along with Verizon as more devices capable of supporting 5G launch in the US. 

At the end of the third quarter of 2021, 66 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in AT&T Inc. (NYSE:T), compared to 68 in the previous quarter worth $2.8 billion.

In its Q1 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and AT&T Inc. (NYSE:T) was one of them. Here is what the fund said:

“Nelson Capital stayed busy in the first quarter, making several adjustments within our core portfolio. In the communication services sector, we sold AT&T (tkr: T). Over the years, AT&T has made several poor acquisitions, especially in the content realm, leaving the company saddled with debt and unable to change directions.”