5 Best Stocks to Buy for the Next 10 Years

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

Number of Hedge Fund Holders: 66

AT&T Inc. (NYSE:T) is a communications and technology firm. The rollout of 5G networks across the world and the business which will be generated as a result will in large part depend on the services offered by wireless broadband providers like AT&T in the next ten years. 

Citi analyst Michael Rollins has a Buy rating on AT&T Inc. (NYSE:T) stock with a price target of $29. Pascal Desroches, the chief financial officer of AT&T, recently said that the growth of the firm was sustainable and consumer demand for the services it offered was healthy going into 2022. 

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.”