5 Best Telecom Stocks To Buy Right Now

In this piece, we will take a look at the five best telecommunications stocks to buy right now. If you want to learn more about the telecommunications industry, then read 12 Best Telecom Stocks To Buy Right Now.

5. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Investors In Q2 2023: 53

Verizon Communications Inc. (NYSE:VZ) is a diversified telecommunications firm that offers internet, voice coverage, and other products and services to businesses and regular consumers. The firm posted a strong set of results for its third quarter that saw it raise free cash flow guidance – an important metric in today’s tough economy. Consequently, the shares jumped by as much as 5% in pre market trading.

As of Q2 2023 end, 53 out of the 910 hedge funds part of Insider Monkey’s database were Verizon Communications Inc. (NYSE:VZ)’s investors. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the biggest investor among these since it owns 13.1 million shares that are worth $489 million.

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

Number of Hedge Fund Investors In Q2 2023: 56

AT&T Inc. (NYSE:T) is one of the largest telecommunications companies in the world and one that traces its roots back to the invention of the telephone. On a rather interesting note, the firm was out with some good news for Apple’s shareholders in October, as it countered rumors of weak iPhone demand in China by sharing that iPhone 15 pre orders were at multi year record highs.

Insider Monkey’s June quarter of 2023 survey covering 910 hedge funds revealed that 56 had held a stake in the company. AT&T Inc. (NYSE:T) ‘s largest shareholder is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital courtesy of its $339 million stake.

3. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Investors In Q2 2023: 66

Comcast Corporation (NASDAQ:CMCSA) is a multinational conglomerate that provides broadband telecommunications products. A diversified business model has helped the firm during a tough economy as it has beaten analyst EPS in all four of its latest quarters.

By the end of this year’s second quarter, 66 out of the 910 hedge funds surveyed by Insider Monkey were Comcast Corporation (NASDAQ:CMCSA)’s investors. Jean-Marie Eveillard’s First Eagle Investment Management owns the biggest stake among these which is worth $1.3 billion.

2. Charter Communications, Inc. (NASDAQ:CHTR)

Number of Hedge Fund Investors In Q2 2023: 67

Charter Communications, Inc. (NASDAQ:CHTR) is one of the biggest internet and cable providers in the world with more than a hundred thousand employees. Like other telcos, it is also expanding its fiber portfolio and the firm entered into a new deal with a Rochester, New York based firm for this purpose in October 2023.

During 2023’s June quarter, 67 out of the 910 hedge funds profiled by Insider Monkey had invested in the company. Charter Communications, Inc. (NASDAQ:CHTR)’s largest hedge fund shareholder is Natixis Global Asset Management’s Harris Associates as it owns $1.9 billion worth of shares.

1. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Investors In Q2 2023: 86

T-Mobile US, Inc. (NASDAQ:TMUS) is an American telecommunication company set up in 1994. Amidst broader worries about a slowdown in America’s 5G rollout, the firm was eager to remind everyone in October 2023 that it had achieved its 2023 goal of providing 300 million people with some 5G coverage.

86 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database had bought and invested in T-Mobile US, Inc. (NASDAQ:TMUS)’s shares. Ken Griffin’s Citadel Investment Group owns the biggest stake among these which is worth $847 million.

Disclosure: None. You can also take a look at 12 Cheap Biotech Stocks Smart Investors Are Piling Into and 12 Best Dividend Aristocrats with Over 3% Yield.

Follow Insider Monkey on Twitter