5 Stocks to Buy According to Centiva Capital

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

Centiva Capital’s Stake Value: $14,121,000
Percentage of Centiva Capital’s 13F Portfolio: 0.27%
Number of Hedge Fund Holders: 74

AT&T Inc. (NYSE:T) is a company that specializes in media, communications, and technology. Simon Flannery, an analyst at Morgan Stanley, maintained an ‘Overweight’ rating and set a price objective of $22 on AT&T Inc. (NYSE:T) shares on July 22 while citing the company’s strong Q2 2022 financial results.

Karim Abbadi and Edward Mcbride’s Centiva Capital have kept a stake in AT&T Inc. (NYSE:T) since the fourth quarter of 2019. The investment fund strengthened its position in AT&T Inc. (NYSE:T) in the first quarter of 2022, buying 701,570 shares. That lifted their stake in AT&T Inc. (NYSE:T) to 791,188 shares worth $14.12 million. For the past 23 years, AT&T Inc. (NYSE:T) has consistently increased its dividends. As of August 9, the company’s quarterly dividend was $0.2775 per share, resulting in a 6.05% dividend yield.

Other leading investors have also been buying AT&T Inc. (NYSE:T) shares in recent quarters. At the end of the first quarter, 74 hedge funds were bullish on the company, compared to 70 in the previous quarter. The combined worth of hedge funds’ Q1 T holdings stood at about $4 billion. Kenneth A. Moffet’s Hourglass Capital owned a $4.05 million stake in AT&T Inc. (NYSE:T) at the end of the first quarter, making it one of the company’s notable shareholders.

In its Q4 2021 investor letter, Weitz Investment Management mentioned AT&T Inc. (NYSE:T). Here is what the fund said:

 “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 to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”