What Smart Money Thinks about Comcast Corporation (CMCSA)?

Seeing as Comcast Corporation (NASDAQ:CMCSA) has experienced bearish sentiment from hedge fund managers, we can see that there were a few hedge funds that slashed their positions entirely in the third quarter. At the top of the heap, Jean-Marie Eveillard’s First Eagle Investment Management sold off the biggest position of all the hedgies tracked by Insider Monkey, totaling about $1.71 billion in stock. James Crichton’s fund, Hitchwood Capital Management, also dropped its stock, about $176 million worth.

Let’s check out hedge fund activity in other stocks similar to Comcast Corporation (NASDAQ:CMCSA). We will take a look at Philip Morris International Inc. (NYSE:PM), Medtronic, Inc. (NYSE:MDT), Intel Corporation (NASDAQ:INTC), and Toyota Motor Corporation (ADR) (NYSE:TM). This group of stocks’ market caps resemble CMCSA’s market cap.

As you can see these stocks had an average of 42 hedge funds with bullish positions and the average amount invested in these stocks was $2.75 billion. That figure was $8.16 billion in Comcast’s case. Intel Corporation (NASDAQ:INTC) is the most popular stock in this table with 68 funds holding long positions. On the other hand, Toyota Motor Corporation (ADR) (NYSE:TM) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Comcast Corporation (NASDAQ:CMCSA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.