4. Comcast Corporation (NASDAQ: CMCSA)
Griffin’s Stake Value: $477,000,000
Percentage of Ken Griffin’s 13F Portfolio: 0.12%
Dividend Yield: 1.75%
Number of Hedge Fund Holders: 88
Comcast Corporation (NASDAQ: CMCSA) ranks 4th on the list of best dividend stocks to buy according to billionaire Ken Griffin. The Philadelphia-based cable giant primarily offers broadband and media entertainment through its brands, namely Xfinity, Sky, and NBCUniversal. Comcast Corporation develops and licenses different digital content through DreamWorks Animation, Universal Pictures, and Focus Features, in addition to broadcasting channels on televisions. Comcast Corporation soft-launched Peacock, a video streaming service, in April 2020, and a year later, the video streaming service has 42 million customers across the United States. Comcast Corporation (NASDAQ: CMCSA) currently pays an annual dividend of $1 per share with a 1.75% dividend yield. CMCSA stock has offered more than 44% returns to investors in the past twelve months.
The company has a market cap of $264 billion. The company’s first-quarter revenue grew 2.2% to $27.2 billion, up from $$26.6 billion in the same period in 2020. As of June 16, Comcast Corporation’s (NASDAQ: CMCSA) shares trade at $57.12 and have a P/E ratio of 22.58. The 52-week price range of CMCSA is $37.77 – $59.11. On April 30, Oppenheimer upgraded Comcast Corporation with an Outperform rating and a price target of $75 per share.
Ken Griffin’s Citadel Investment Group holds 8,816,164 shares in the company worth over $477 million. The hedge fund has upped its stakes in Comcast Corporation (NASDAQ: CMCSA) by 936% in the past few months. There were 88 hedge funds that reported owning stakes in Comcast Corporation (NASDAQ: CMCSA) at the end of the first quarter, up from 84 funds a quarter earlier. The total value of these stakes at the end of Q1 is $9.8 billion.
In the Q1 2021 investor letter, Harding Loevner mentioned Comcast Corporation (NASDAQ: CMCSA) and shared their insights. Here is what the fund said:
“Comcast is the largest cable provider in the 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 offset 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 the evolving needs of its customers.”
