5 Best Telecom Stocks to Buy Right Now

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 58 

Verizon Communications Inc. (NYSE:VZ) offers communications, technology, information, and entertainment products and services. It is one of the top communication stocks to invest in. On September 28, the firm announced new products that outline the focus towards home entertainment experiences. A gaming device is also part of the new lineup of products by the telecom firm. The firm revealed the next iteration of the popular Verizon Receiver as well, which it says is more than 60% smaller and lighter. 

On September 29, Barclays analyst Kannan Venkateshwar maintained an Equal Weight rating on Verizon Communications Inc. (NYSE:VZ) stock and lowered the price target to $40 from $48, noting that broadband unit growth challenges were now well understood. 

Among the hedge funds being tracked by Insider Monkey, Washington-based firm Fisher Asset Management is a leading shareholder in Verizon Communications Inc. (NYSE:VZ), with 17 million shares worth more than $879.8 million. 

In its Q4 2021 investor letter, ClearBridge 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:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We added to more defensive areas of the portfolio like telecom Verizon Communications Inc. (NYSE:VZ). While the next month or two will likely prove choppy on account of the Omicron variant, we believe that Omicron, like Delta, represents a speed bump on the way to recovery rather than a true change in course. We see strong economic momentum continuing in 2022 and we expect interest rates to rise. After a decade of remarkably low rates, we would not be surprised if this change in direction is accompanied by some fits and starts in the markets. With our emphasis on pricing power, purposeful sector exposure, valuation discipline, and a strong dividend profile, we believe we are well-positioned for the year ahead.”