Top 5 Stock Picks of Mika Toikka’s AlphaCrest Capital

2. Verizon Communications Inc. (NYSE:VZ)

AlphaCrest Capital’s Stake Value: $17.246 million

Number of Hedge Fund Holders: 69

The largest wireless carrier in the United States, Verizon Communications Inc. (NYSE:VZ), generated a revenue of $133.6 billion in 2021. The company is one of the leading 5G providers in the world.

ClearBridge Investments published its Q4 2021 investor letter, which mentioned Verizon Communications Inc. (NYSE:VZ). Here is what it 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). 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.”