Simon Sadler’s Segantii Capital is Bullish on These 5 Stocks

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

Segantii Capital’s Stake Value: $194,948,000

Percentage of Segantii Capital’s 13F Portfolio: 5.63%

Number of Hedge Fund Holders: 74

Telecom giant AT&T Inc. (NYSE:T) became the third biggest holding of Segantii Capital at the end of the first quarter after the fund increased its stake in the company by 32 times during that period. Out of the 912 funds we monitor, 74 reported a stake in AT&T Inc. (NYSE:T) during the first quarter, up from 70 that reported a stake in the company at the end of 2021.

On July 22, Barclays analyst Kannan Venkateshwar downgraded AT&T (T) to ‘Equal Weight’ from ‘Overweight’ and lowered his stock price target to $20 from $22. In his note on AT&T Inc. (NYSE:T), Mr Venkateshwar said that though the company posted strong subscriber numbers for the second quarter of 2022, but:

“…the higher these numbers are, the more difficult it becomes to extrapolate, and higher the chances become of a steep reversal at some point due to industry saturation.”