5 Best Stocks Under $20 According to Jim Simons’ Renaissance Technologies

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

Renaissance Technologies’ Stake Value: $460 million

Percentage of Renaissance Technologies’ 13F Portfolio: 0.57%

Number of Hedge Fund Holders: 70

Share Price as of December 12: $19.56

AT&T Inc. (NYSE:T) is an American telecommunications services provider. It offers wireless voice and data plans, cloud solutions, different kinds of telephony services, and cloud solutions.

Dr. Simons’ hedge fund had owned 18.7 million AT&T Inc. (NYSE:T) shares during Q4 2021 for a $460 million stake that translated into 0.57% of its investment portfolio. During the same time period, 70 of the 924 hedge funds profiled by Insider Monkey had invested in the firm.

AT&T Inc. (NYSE:T)’s fiscal fourth quarter results revealed that it had brought in $41 billion in revenue and $0.78 in non-GAAP EPS, for a strong set of results that beat Wall Street estimates. Raymond James lowered its price target to $26 from $32 in April 2022, stating that some uncertainty still remains in regards to the company.

Ken Griffin’s Citadel Investment Group is AT&T Inc. (NYSE:T)’s  largest investor. It owns 43 million shares worth $1 billion.

Weitz Investment Management mentioned the company in its fourth quarter investor letter as it outlined that:

“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).”

Disclosure: None. You can also take a look at 13 Best Hemp Stocks to Buy Now and Billionaire Ken Fisher’s Top 10 High Dividend Stock Picks.

Follow Insider Monkey on Twitter