In this article, we take a look at five stocks that are making headlines today. If you want to take a look at some more stocks that are trending and the latest market situation, go to 10 Stocks Making Headlines on Monday.
5. NVIDIA Corporation (NASDAQ:NVDA) has declined 5.3% as of 10:58 AM ET after the Santa Clara, California-based designer of Graphics Processing Units (GPUs) was downgraded from an Outperform to a Neutral rating at Baird. The price target on NVIDIA Corporation (NASDAQ:NVDA) was reduced from $360 to $225, reflecting a potential upside of over 7% from Friday’s closing price. The analyst observed that order cancellations for customer GPUs have started due to excess inventories. He added that the slowdown in the PC market and the sanctions on Russia would adversely impact NVIDIA Corporation (NASDAQ:NVDA).
Of the 924 hedge funds in Insider Monkey’s database, 110 funds held a stake in NVIDIA Corporation (NASDAQ:NVDA) as of Q4 2021.
4. AT&T Inc. (NYSE:T) shares are 6.8% in the green as of 11:01 AM ET following the WarnerMedia spinoff. Analysts reacted positively to the development, with David Barden at Bank of America reiterating a Buy rating on AT&T Inc. (NYSE:T) with a price target of $25. He highlighted that the stock of the Dallas, Texas-based telecommunication services provider is undervalued, and the spinoff would simplify the business structure and unlock potential upside for investors. The significant decline in dividend from $2.08 to $1.11 has already been priced in the stock.
Overall, AT&T Inc. (NYSE:T) was held by 70 hedge funds at the end of Q4 2021. Citadel Investment Group is the leading investor in AT&T Inc. (NYSE:T), with a stake worth over $1 billion.
3. Apple Inc. (NASDAQ:AAPL) has dropped 2.2% as of 11:01 AM ET after reports that the Cupertino, California-based tech giant has started manufacturing iPhone 13 units in India to diversify its supply chain from China. The production is taking place at a facility in Southern Tamil Nadu under Foxconn, a Taiwan-based manufacturing partner of Apple Inc. (NASDAQ:AAPL).
Apple Inc. (NASDAQ:AAPL) is the ninth most owned stock amongst the hedge funds covered by Insider Monkey. As of Q4 2021, 134 hedge funds held a stake in Apple Inc. (NASDAQ:AAPL).
2. Meta Platforms, Inc. (NASDAQ:FB) has fallen 3% as of 10:59 AM ET after a New York Post report revealed that a group of shareholders is dissatisfied with the weak style of leadership exhibited by Mark Zuckerberg, causing the stock to lose 34% of its value since the start of the year. The investors are planning to present two resolutions at the annual shareholder’s meeting that would provide oversight on Facebook, Instagram, and the potential ‘dystopian downsides’ of Zuckerberg’s adventure into the metaverse.
Meta Platforms, Inc.’s (NASDAQ:FB) advertising business has come under fire due to privacy restrictions imposed by Google and Apple. Meta Platforms, Inc. (NASDAQ:FB) is also facing multiple antitrust lawsuits with claims that Zuckerberg lied to his investors regarding the adverse impact of Instagram on teens.
Out of the 924 hedge funds covered by Insider Monkey, 224 funds had a stake in Meta Platforms, Inc. (NASDAQ:FB) as of Q4 2021.
1. NetEase, Inc. (NASDAQ:NTES) has jumped 2.5% as of 11:01 AM ET after a Bloomberg report shared that the Chinese government has given the go-ahead to the first batch of video game licenses. The list of approved titles has been shared with developers and will be shortly up on the website of the National Press and Public Administration. NetEase, Inc. (NASDAQ:NTES) is a Chinese company that provides self-developed PC-client and video games globally.
As of Q4 2021, NetEase, Inc. (NASDAQ:NTES) was held by 35 hedge funds.
You can also take a peek at the 10 Dividend-Paying Consumer Defensive Stocks and 10 Value Stocks to Buy According to Joel Greenblatt.
