Berkshire Hathaway Stock Portfolio: 5 Cheapest Stocks

2. Verizon Communications Inc. (NYSE:VZ)

Berkshire Hathaway’s Stake Value: $8,898,941,000
Percent of Berkshire Hathaway’s 13F Portfolio: 3.03%
Number of Hedge Fund Holders: 63
Share Price as of October 20: $53.71

Verizon Communications Inc. (NYSE:VZ) reported its Q3 2021 results on October 20, posting an EPS of $1.41, which beat the market consensus by $0.05. The company’s revenue stood at $32.9 billion, up 4.4% from the same period last year.

Verizon Communications Inc. (NYSE:VZ) is an American multinational communications company. After Berkshire Hathaway, Kahn Brothers is the company’s leading shareholder, with shares worth over $900 million. In addition, 63 hedge funds tracked by Insider Monkey reported having stakes in Verizon Communications Inc. (NYSE:VZ), compared with 69 in the previous quarter. The total value of these stakes is roughly $11 billion.

Berkshire Hathaway owns over 158 million shares in Verizon Communications Inc. (NYSE:VZ) in Q2, valued at $8.89 billion. The company accounts for 3.03% of the hedge fund’s 13F portfolio.

Miller/Howard Investments mentioned Verizon Communications Inc. (NYSE:VZ) in its Q1 2021 investor letter. Here is what the firm has to say:

“We sold Verizon (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.”