5 Dividend Stocks to Buy According to Andreas Halvorsen’s Viking Global

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 78
Dividend Yield as of May 23: 2.55%
Viking Global’s Stake Value: $659,163,000

Comcast Corporation (NASDAQ:CMCSA), an American multinational telecommunications company, recently announced a joint venture with Charter to develop a next-generation streaming platform, which will be available on 4k streaming devices and smart TVs. This will provide consumers with a world-class user experience and navigation.

Viking Global pulled its entire stake from Comcast Corporation (NASDAQ:CMCSA) in 2013 and started reinvesting during 2019, purchasing shares worth over $13 million, at an average share price of $44.5. At the end of Q1 2022, the hedge fund held shares worth roughly $660 million in the company, which represented 2.66% of Andreas Halvorsen’s portfolio.

In January, Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend of $0.27 per share, after increasing it by 8%. The company has increased its annual dividend for the past 14 years, with a 5-year dividend CAGR of 12.34%. As of May 23, the stock’s dividend yield came to be recorded at 2.55%.

Acknowledging the broadband business of Comcast Corporation (NASDAQ:CMCSA), Rosenblatt, in April, initiated its coverage on the stock with a Neutral rating and a $51 price target. The analyst further noted that the company derived 55% of its sales from cable in 2021 and believes that it should focus on expanding its broadband business further.

Insider Monkey’s Q4 2021 data shows that the hedge fund interest has slightly declined in Comcast Corporation (NASDAQ:CMCSA), as 78 hedge funds held stakes in the company, down from 80 in the previous quarter. The consolidated value of these stakes is $7.1 billion.

ClearBridge Investments mentioned Comcast Corporation (NASDAQ:CMCSA) in its Q4 2021 investor letter. Here is what the firm has to say:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Comcast 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.”