Is it a Good Time to Acquire AT and T (T) Shares?

Weitz Investment Management, an investment management firm, published its “Hickory Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of +6.54% was recorded by the fund in the fourth quarter of 2021, outperforming its Russell Midcap benchmark that delivered a +6.44% return. For the calendar year, the Fund returned +20.32% compared to +22.58% for the index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Weitz Investment Management Hickory Fund in its Q4 2021 investor letter, mentioned AT&T Inc. (NYSE: T) and discussed its stance on the firm. AT&T Inc. is a Dallas, Texas-based telecommunications company with a $175.3 billion market capitalization. T delivered a -0.16% return since the beginning of the year, while its 12-month returns are down by -15.11%. The stock closed at $24.56 per share on February 3, 2022.

Here is what Weitz Investment Management Hickory Fund has to say about AT&T Inc. in its Q4 2021 investor letter:

“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).”

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Our calculations show that AT&T Inc. (NYSE: T) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. T was in 66 hedge fund portfolios at the end of the third quarter of 2021, compared to 68 funds in the previous quarter. AT&T Inc. (NYSE: T) delivered a -2.15% return in the past 3 months.

In May 2021, we also shared another hedge fund’s views on T in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.