5 Best Bear Market Stocks to Buy According to Morgan Stanley

3. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 78

Comcast Corporation (NASDAQ:CMCSA) is a Philadelphia-based communications company that also specializes in wireless services and markets televisions, internet, and telephones for its customers.

For the quarter ending March 31, Comcast Corporation (NASDAQ:CMCSA) posted an EPS of $0.86, exceeding analysts’ estimates by $0.05. The company also showed growth in its other segments as well, reporting net additions of 194,000 and 262,000 in its cable and broadband customers, respectively. Moreover, its revenue for the quarter showcased a 14% year-over-year growth at $31.01 billion.

Comcast Corporation (NASDAQ:CMCSA) has been paying regular dividends to shareholders for the past 14 years. Currently, the company offers a quarterly payout of $0.27 per share, with a 2.51% yield, as of the close of June 8. In view of its dividend growth, Comcast Corporation (NASDAQ:CMCSA) was added by Goldman Sachs to its list of top dividend picks in May.

Morgan Stanley lifted its price target on Comcast Corporation (NASDAQ:CMCSA) to $55, picking the communications company as one of the best bear market stocks. In addition to this, Benchmark also set a $60 price target on CMCSA in June, with a Buy rating on the shares.

At the end of March 2022, the number of hedge funds tracked by Insider Monkey owning stakes in Comcast Corporation (NASDAQ:CMCSA) stood at 78, declining slightly from 80 in the previous quarter. The collective value of these stakes is over $7 billion. With stakes worth over $1.4 billion, First Eagle Investment Management was the company’s leading shareholder in Q1 2022.

ClearBridge Investments mentioned Comcast Corporation (NASDAQ:CMCSA) in its Q4 2021 investor letter. Here is what the firm has to say:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Comcast was hurt by tepid subscriber growth in its broadband business but demonstrated strong growth in free cash flow, positioning the company for accelerated capital return going forward.”