In this article, we will be looking at the 5 best blue chip dividend stocks hedge funds are buying. If you want to see our detailed analysis of blue-chip stocks, and dividend investing, go directly to the 10 Best Blue Chip Dividend Stocks Hedge Funds Are Buying.
5. Comcast Corporation (NASDAQ: CMCSA)
Number of Hedge Fund Holders: 88
Dividend Yield: 1.73%
Number of Years of Consistent Dividend Growth: 13
Comcast Corporation (NASDAQ: CMCSA) is a media and technology company operating worldwide to provide cable services, internet, streaming services, and other related services. It ranks 5th on our list of the best blue chip dividend stocks hedge funds are buying.
This July, Benchmark analyst Matthew Harrigan raised the firm’s price target on Comcast Corporation (NASDAQ: CMCSA) shares to $72, retaining a Buy rating on the stock, adding that the Tokyo Olympics are expected to boost Comcast Corporation (NASDAQ: CMCSA) owned Peacock’s performance.
In the first quarter of 2021, Comcast Corporation (NASDAQ: CMCSA) had an EPS of $0.76, beating estimates by $0.18. The company’s revenue was $27.20 billion, up 2.24% year over year and beating estimates by $465.18 million. Comcast Corporation (NASDAQ: CMCSA) has also gained 18.65% in the past 6 months and 14.37% year to date.
By the end of the first quarter of 2021, 88 hedge funds out of the 866 tracked by Insider Monkey held stakes in Comcast Corporation (NASDAQ: CMCSA) worth roughly $9.76 billion. This is compared to 84 hedge funds in the previous quarter with stakes worth about $8.83 billion.
Nelson Capital Management, an investment management firm, has mentioned Comcast Corporation (NASDAQ: CMCSA) in its first-quarter 2021 investor letter. Here’s what they said:
“Comcast is the Largest cable provider in t he U.S. and is the dominant internet access provider in the markets it serves. Though Comcast will likely see further declines in cable subscriptions due to ongoing cord-cutting, it should be able to off set that lost revenue by growing internet access customers and instituting higher pricing. The pandemic has increased the importance of a fast internet connection, with more content streaming to homes at increasingly higher quality. Comcast made significant upgrades early on, allowing it to quickly deploy new technology and increase speeds to meet t he evolving needs of its customers.”