5 Stocks to Buy Before Their Earnings Reports

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

Number of Hedge Fund Holders: 70

Earnings Due On: April 21

AT&T Inc. (NYSE:T) is a media, communications, and technology firm. The company recently closed a merger deal that resulted in the unison of the WarnerMedia business of the firm with the Discovery business. Analysts have been bullish on the firm after the spin-off. On April 12, Raymond James analyst Frank Louthan predicted that the stock would witness more institutional interest as a result of the spin-off. However, the analyst also cautioned against the stock being “recession-proof”. 

On April 13, Morgan Stanley analyst Simon Flannery kept an Overweight rating on AT&T Inc. (NYSE:T) stock with a price target of $21, highlighting that there was caution around wireless carriers ahead of the first quarter as promotions were likely to weigh on metrics. 

At the end of the fourth quarter of 2021, 70 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in AT&T Inc. (NYSE:T), compared to 66 in the preceding quarter worth $3.2 billion.  

In its Q4 2021 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and AT&T Inc. (NYSE:T) was one of them. 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 Inc. (NYSE:T) to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”