5 Safe Stocks to Buy According to Hedge Funds

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

Beta Value: 0.56
Number of Hedge Fund Holders: 100

T-Mobile US, Inc. (NASDAQ:TMUS) and its subsidiaries provide mobile communications services in the United States, Puerto Rico, and the US Virgin Islands. Our lives depend on wireless devices, which is the company’s area of expertise. The company shares have offered investors more than 37.48% in returns over the past twelve months. Therefore T-Mobile US, Inc. (NASDAQ:TMUS) is one of the safe stocks to buy for the long term.

T-Mobile is the third-largest wireless provider in the United States after merging with Sprint in 2020. The company is also thinking about buying Mint Mobile, a supplier of low-cost cellphone plans with the ambition to strengthen its position in the cellular network industry.

On January 5, JPMorgan analyst Philip Cusick maintained an “Overweight” rating and $200 price objective on T-Mobile US, Inc. (NASDAQ:TMUS). T-Mobile is Cusick’s favorite communications services stock and the best long-term idea.

The number of hedge funds tracked by Insider Monkey having stakes in T-Mobile US, Inc. (NASDAQ:TMUS) grew to 100 in Q3 from 96 in the preceding quarter. These stakes hold a consolidated value of $5.38 billion, up from $6.86 billion. Berkshire Hathaway is the leading shareholder of T-Mobile US, Inc. (NASDAQ:TMUS), with 5.24 million shares worth over $703.32 million.

ClearBridge Investments mentioned T-Mobile US, Inc. (NASDAQ:TMUS) in its Q4 2021 investor letter. Here is what the fund said:

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”