5 Best Communication Stocks To Buy Today

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 73     

Comcast Corporation (NASDAQ:CMCSA) operates as a media and technology company worldwide. On October 28, Comcast Corporation (NASDAQ:CMCSA) posted earnings for the third quarter of 2022, reporting earnings per share of $7.38, missing market estimates by $0.91. The revenue over the period was $13.6 billion, up 3.5% compared to the revenue over the same period last year and missing market estimates by $70 million.

On October 28, Cowen analyst Gregory Williams maintained an Outperform rating on Comcast Corporation (NASDAQ:CMCSA) stock and lowered the price target to $49 from $51, highlighting that the company is aiming to extract ARPU, a risky strategy, but is also concentrating on Mobile Business Services and margins.

Among the hedge funds being tracked by Insider Monkey, New York-based firm First Eagle Investment Management is a leading shareholder in Comcast Corporation (NASDAQ:CMCSA) with 31.6 million shares worth more than $928 million.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Comcast Corporation (NASDAQ:CMCSA) was one of them. Here is what the fund said:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Comcast Corporation (NASDAQ:CMCSA) 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.”