Jim Cramer Is Talking About These 5 Stocks

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 69

Verizon Communications Inc. (NYSE:VZ) provides technology and communications services. Cramer has been bullish on the stock in the past few weeks, twice advising his viewers to buy the stock. On July 13, he underlined that he preferred Verzion over AT&T in response to a viewer’s question about the telecom sector during the Lightning Round of his show. In mid-June, he had placed the firm among a basket of equities that offered dividend protection in an uncertain macro environment. 

On June 28, Scotiabank analyst Maher Yaghi assumed coverage of Verizon Communications Inc. (NYSE:VZ) stock with an Outperform rating and a price target of $59, noting that firms with high wireless exposure would do better in Canada in the coming months. 

At the end of the first quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $4.1 billion in Verizon Communications Inc. (NYSE:VZ), compared to 63 in the previous quarter worth $10.8 billion.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Verizon Communications Inc. (NYSE:VZ) was one of them. Here is what the fund said:

“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 Communications Inc. (NYSE:VZ)). 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.”