5 Stocks US Politicians Are Buying

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

Number of Hedge Fund Holders: 70

AT&T Inc. (NYSE:T) is a communications, media, and technology company. The hedge fund sentiment around the stock is overwhelmingly positive. At the end of the fourth quarter of 2021, 70 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in AT&T Inc. (NYSE:T), compared to 66 in the preceding quarter worth $3.2 billion.  

On March 21, US politician Michael Guest disclosed a purchase of AT&T Inc. (NYSE:T) stock worth somewhere between $1,000-$15,000. The transaction in this regard took place a week before it was made public. 

In its Q1 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and AT&T Inc. (NYSE:T) was one of them. Here is what the fund said:

“Nelson Capital stayed busy in the first quarter, making several adjustments within our core portfolio. In the communication services sector, we sold AT&T Inc. (NYSE:T). Over the years, AT&T Inc. (NYSE:T) has made several poor acquisitions, especially in the content realm, leaving the company saddled with debt and unable to change directions.”