5 Best Roth IRA Stocks To Buy in 2022

1. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63    

Verizon Communications Inc. (NYSE:VZ) is a New York-based communications and technology company. At the end of the fourth quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $10.8 billion in Verizon Communications Inc. (NYSE:VZ), compared to 57 in the previous quarter worth $10.3 billion.

Verizon Communications Inc. (NYSE:VZ) is also a solid pick for long-term investment since the company has a stellar dividend history stretching back over two decades. In addition to growth catalysts in the 5G domain, the capital returns on the stock could also increase over time as the firm improves cash flows through the streaming and other digital businesses. JPMorgan analyst Philip Cusick has an Overweight rating on the stock with a price target of $56. 

In its Q1 2021 investor letter, Miller/Howard 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:

“We sold Verizon Communications Inc. (NYSE:VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.”

You can also take a peek at 10 Penny Stocks Redditors are Buying in August and 10 Best Nickel Stocks to Buy Now.

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