5 Best Telecom Companies to Invest In

3. COMCAST CORP

Number of HFs: 68

CMCSA ranks third on our list of the best telecom companies to invest in. Comcast Corporation (CMCSA) is a diversified global media and technology company, offering cable television, high-speed internet, and phone services to both residential and business customers. The company has a notable track record, providing a quarterly dividend of $0.29 per share and consistently increasing payouts for 15 consecutive years. As of November 24,2023, the stock carries a dividend yield of 2.72%.

At the close of Q3 2023, ownership by hedge funds in Comcast Corporation increased to 68, up from 66 in the preceding quarter, as reported by Insider Monkey’s database. The combined value of these holdings surpassed $3.6 billion, with First Eagle Investment Management leading as the primary stakeholder, holding approximately 32 million shares in Q3.

Comcast Corporation (NASDAQ:CMCSA) has recently witnessed a significant insider sale that has caught the attention of investors and market analysts. Jason Armstrong, the Chief Financial Officer of Comcast Corp, sold a total of 41,663 shares of the company on November 20, 2023. This transaction has prompted a closer look into the insider’s trading behavior and its potential implications for the stock’s performance.

ClearBridge Large Cap Value Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q3 2023 investor letter:

“Long-term holdings Charter and Comcast Corporation (NASDAQ:CMCSA) delivered strong second-quarter results relative to expectations; their stable recurring revenue streams and undemanding valuations were rewarded in the current environment. Cable multiples compressed over the past 24 months on fears of heightened competition in their core broadband business from fixed wireless and fiber providers. While fiber remains a competitive alternative to cable broadband over the long term, high upfront investments and a materially higher cost of capital are resulting in slower buildouts than previously expected. Fixed wireless also continues to gain traction, particularly in rural markets, but share gains also appear to be moderating. At the same time, both Comcast and Charter are expanding their footprints into rural and adjacent markets while gaining wireless market share, leveraging their mobile virtual network operator agreements with Verizon. We think both cable companies are well-positioned to continue to grow while generating substantial free cash flows. We added to Comcast during the quarter.”