In this article, we discuss the 5 best very cheap stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Very Cheap Stocks to Buy Right Now.
5. Wipro Limited (NYSE: WIT)
Number of Hedge Fund Holders: 13
Price as of June 25: $7.83
Wipro Limited (NYSE: WIT) ranks 5th on the list of 15 best very cheap stocks to buy right now. The IT company was founded in 1945 and is headquartered in Bengaluru, India. Wipro Limited is one of the leading providers of IT consulting services in the world. The company also develops innovative tech solutions in robotics, cognitive computing, analytics, cybersecurity, and cloud computing. Wipro Limited (NYSE: WIT) is one of the best cheap stocks to buy right now as the company pays an annualized dividend of $0.012 per share to shareholders. The stock’s dividend yield is 0.17%.
The company has a market cap of $41 billion. The stock has offered investors returns exceeding 163% over the past twelve months. Shares of WIT are also up 12% in the last month. The company’s gross revenue in 2020 increased by 1.53.4% to $8.5 billion year-over-year. Among the company’s partners are Adobe Inc. (NASDAQ: ADBE), Cisco Systems, Inc. (NASDAQ: CSCO), and Microsoft Corporation (NASDAQ: MSFT). In March, the company announced its acquisition of a multinational management and tech consultancy firm Capco for $1.45 billion. On May 26, Bernstein upgraded Wipro Limited to Market Perform, with a price target of $6.2 per share.
There were 13 hedge funds that reported owning stakes in Wipro Limited (NYSE: WIT) at the end of the first quarter, up from 11 funds a quarter earlier. The total value of these stakes at the end of Q1 is $130 million.