5 Best Communication Services Stocks To Invest In

3. Comcast Corporation (NASDAQ:CMCSK)

Number of Hedge Fund Holders: 72

Comcast Corporation (NASDAQ:CMCSK) is the biggest media and telecom conglomerate in the US, with media, internet services, TV and broadcasting businesses. It is one of the best communication services stocks to buy according to hedge funds. Insider Monkey’s proprietary database of 943 funds shows that 72 hedge funds had stakes in Comcast Corporation (NASDAQ:CMCSK) as of the end of the fourth quarter of 2022. The most notable hedge fund stakeholder of Comcast Corporation (NASDAQ:CMCSK) was Jean-Marie Eveillard’s First Eagle Investment Management which owns a $1.1 billion stake in the company.

Recently, Comcast Corporation (NASDAQ:CMCSK) stock jumped after BofA analyst Jessica Reif upgraded it to Buy from Neutral. The analyst also increased her price target for Comcast Corporation (NASDAQ:CMCSK) to $49.

ClearBridge Multi Cap Growth Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter:

“That balance served the Strategy well throughout the year, enabling outperformance against the benchmark in all four quarters. Results in the last three months were driven by a long-time media position in Comcast Corporation (NASDAQ:CMCSA), which we consider a durable compounder due to its consistent revenue growth and free cash flow generation. Comcast shares saw a snapback after a difficult first half of the year caused by cord cutting in its cable business and slowing subscriber growth in its broadband business. A flexible balance sheet and strong cash generation enabled the company to repurchase shares during the selloff earlier in the year.”