Jim Cramer Says You Should Sell These 5 Stocks

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

Number of Hedge Fund Holders: 70

AT&T Inc. (NYSE:T) is a media, communications, and technology firm. Cramer discussed the stock during the Lightning Round of his show in late March. While talking about the firm, the investor underlined that right now, it was not just prudent to invest in the firm because it was doing “terribly”. He further added that it was just “not a great company”. 

On April 14, Wells Fargo analyst Eric Luebchow maintained an Equal Weight rating on AT&T Inc. (NYSE:T) stock and lowered the price target to $21 from $26, noting that a promotional first quarter would weigh on the profitability metrics of the wireless sector in the coming months. 

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.  

In its Q4 2021 investor letter, Weitz Investment 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:

“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T Inc. (NYSE:T) to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”