In this article, we discuss 5 dividend stocks to buy according to Lee Munder Capital Group. If you want to read our detailed analysis of the hedge fund’s performance and investment strategy, go directly to 10 Dividend Stocks to Buy According to Lee Munder Capital Group.
5. Comcast Corporation (NASDAQ:CMCSA)
Dividend Yield as of June 30: 2.75%
Lee Munder Capital Group’s Stake Value: $19,196,000
Comcast Corporation (NASDAQ:CMCSA) is a global media and tech company providing high-speed internet and other phone services to its consumers. In April, the company announced a collaboration with Charter to develop a next-generation streaming platform, while the broadband and cable video businesses of both companies will remain independent.
Lee Munder Capital Group sold off its former Comcast Corporation (NASDAQ:CMCSA) stake, worth $214,000 as of September 30 2015, during the fourth quarter of 2015. The hedge fund resumed its position in the company during Q1 2022, purchasing shares worth over $19 million. The company represented 1.11% of the hedge fund’s portfolio.
As per Insider Monkey’s Q1 database, 78 hedge funds owned stakes in Comcast Corporation (NASDAQ:CMCSA), down from 80 in the previous quarter. The collective value of these stakes is over $7 billion. First Eagle Investment Management owned the largest stake in the company in Q1, worth over $1.4 billion.
On May 27, Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend of $0.27 per share, in line with its previous quarter. The company has been raising its dividends consecutively for the past 14 years. The stock’s dividend yield came in at 2.75% as of June 30.
“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.”