In this article, we discuss 5 stocks to buy now according to James Katz’s Humankind Investments. If you want to read our detailed analysis of Katz’s history, investment philosophy, and hedge fund performance, go directly to 10 Stocks to Buy Now According to James Katz’s Humankind Investments.
5. Verizon Communications Inc. (NYSE:VZ)
Humankind Investments’ Stake Value: $4,467,000
Percentage of Humankind Investments’ 13F Portfolio: 1.79%
Number of Hedge Fund Holders: 63
Verizon Communications Inc. (NYSE:VZ) provides individuals, companies, and government agencies worldwide with communications, technology, information, and entertainment goods and services. Verizon Communications Inc. (NYSE:VZ) was downgraded from Buy to Neutral by Goldman Sachs analyst Brett Feldman on April 25, with a price objective of $55, down from $61. Feldman said Verizon’s potential for outperformance over the next 12 months is limited.
Verizon Communications Inc. (NYSE:VZ) on April 22 posted earnings for the first quarter of 2022. The reported EPS came in at $1.35, in line with the estimates. Revenue over the period gained 2.1% compared to the previous year’s quarter, reaching $33.6 billion.
In the fourth quarter of 2021, 63 hedge funds in Insider Monkey’s database owned holdings in Verizon Communications Inc. (NYSE:VZ) worth $10.88 billion, up from 57 in the previous quarter worth $10.36 billion.
In the fourth quarter, Humankind Investments raised its position in Verizon Communications Inc. (NYSE:VZ) by 22% to 85,962 shares, accounting for 1.79% of the overall portfolio. Heathbridge Capital Management is the leading shareholder of Verizon Communications Inc. (NYSE:VZ), with 554,075 shares worth $28.23 million.
“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). 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.”