5 Best Stocks Under $50

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

Number of Hedge Fund Holders: 63

AT&T Inc. (NYSE: T) is a telecommunications, media, and technology services provider operating worldwide. The company has three segments: Communications, WarnerMedia, and Latin America. It ranks 4th on our list of the best stocks under $50.

This June, AT&T Inc. (NYSE: T) announced that it would be moving its 5G mobile network to Microsoft Corporation’s (NASDAQ: MSFT) Azure for Operator’s cloud in a strategic move. The company’s WarnerMedia segment is also bringing in $1.4 billion by selling the Playdemic platform to Electronic Arts Inc. (NASDAQ: EA). The stock also pays a regular high dividend with a 7.23% yield, making it a good income investment choice. Additionally, Tigress Financial reiterated its Buy rating on the stock this July with a 12-month price target of $36, in light of the firm’s positive response to news of the WarnerMedia sale.

In the first quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.86, beating estimates by $0.08. The company’s revenue was $43.94 billion, up 2.71% year over year and beating estimates by $1.27 billion. The stock has a forward PE ratio of 9.31 and has gained 0.52% in the past month.

As of the end of the first quarter of 2021, 63 hedge funds out of the 866 tracked by Insider Monkey held stakes in AT&T Inc. (NYSE: T), with a total stake value of about $2.7 billion. This is compared to 58 hedge funds in the previous quarter, with a total stake value of roughly $1.04 billion.