Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Chartwell Investment Partners mentioned AT&T Inc. (NYSE:T) and explained its insights for the company. Founded in 1983, AT&T Inc. (NYSE:T) is a Dallas, Texas-based multinational telecommunications holding company with a $115.7 billion market capitalization. AT&T Inc. (NYSE:T) delivered a -12.53% return since the beginning of the year, while its 12-month returns are down by -20.87%. The stock closed at $16.24 per share on September 22, 2022.
Here is what Chartwell Investment Partners has to say about AT&T Inc. (NYSE:T) in its Q2 2022 investor letter:
“In the Dividend Equity accounts, the three best performers in Q2 includes AT&T (NYSE:T, 2.5%), up 17.1%. AT&T completed the spin of the WarnerMedia business (HBO, CNN, etc.), and the market seemed to like the “back-to-basics” approach. Also, the telco business is expected to do relatively well in an inflationary environment.”
Our calculations show that AT&T Inc. (NYSE:T) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. AT&T Inc. (NYSE:T) was in 55 hedge fund portfolios at the end of the second quarter of 2022, compared to 74 funds in the previous quarter. AT&T Inc. (NYSE:T) delivered a -21.20% return in the past 3 months.
In August 2022, we also shared another hedge fund’s views on AT&T Inc. (NYSE:T) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.