5 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds

3. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 78

Dividend Yield as of July 5: 5.55%

Comcast Corporation (NASDAQ:CMCSA) delivers industry-leading broadband, mobile, and entertainment platforms that power incredible experiences for customers globally.

On June 30, Deutsche Bank analyst Bryan Kraft upgraded Comcast Corporation (NASDAQ:CMCSA) from ‘Hold’ to ‘Buy’, but reduced the firm’s price target on the stock from $34 to $32. The lowered estimate still reflects a robust upside of over 34% from the current levels.

The analyst believes that Comcast’s planned split into two independent publicly traded companies could unlock additional shareholder value. Deutsche Bank upgraded the stock after changing its valuation approach from a market-based discounted cash flow model to a sum-of-the-parts analysis, which points to greater value creation.

In a major announcement on June 29, Comcast Corporation (NASDAQ:CMCSA) revealed its plans to spin off NBCUniversal into a separate publicly traded company, which will include the Universal Pictures film studio, the NBC and Telemundo broadcast networks, NBC News, the streaming service Peacock, the cable channel Bravo, a lucrative theme parks division, and Sky. Meanwhile, Comcast will focus solely on providing broadband, cable, and wireless services to business and residential customers.

The company expects the split to be completed within a year.