5 Low-Priced Blue Chip Stocks to Buy Now

1. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 78

Share Price as of June 17: $38.71

On April 28, Comcast Corporation (NASDAQ:CMCSA) reported market-beating earnings for the fiscal first quarter of 2022. The company registered an EPS of $0.86, ahead of expectations by $0.05. Moreover, the company’s revenue for the quarter came in at $31.01 billion, up 13.99% year over year, and exceeded Wall Street expectations by $602.53 million.

Comcast Corporation (NASDAQ:CMCSA) made it to Wells Fargo’s recession stock portfolio. Morgan Stanley analysts are also bullish on Comcast Corporation (NASDAQ:CMCSA) and named the stock among their top 15 picks that can weather a bear market. Moreover, on June 2, Benchmark analyst Matthew Harrigan lowered his price target on Comcast Corporation (NASDAQ:CMCSA) to $60 from $65 but reiterated a Buy rating on the shares. The analyst noted that he cut his price target on Comcast Corporation (NASDAQ:CMCSA) to reflect tightening market conditions.

Comcast Corporation (NASDAQ:CMCSA) is an undervalued blue-chip play, with the added advantage of dividends. As of June 17, Comcast Corporation (NASDAQ:CMCSA) has a forward PE ratio of 10.76 and a dividend yield of 2.79%.

At the end of Q1 2022, 78 hedge funds were long Comcast Corporation (NASDAQ:CMCSA) with stakes worth $7.12 billion. Of these, First Eagle Investment Management held the majority stakes and was the top shareholder in the company. As of March 31, First Eagle Investment Management’s stakes in Comcast Corporation (NASDAQ:CMCSA) are valued at $1.40 billion, up 3% from its Q4 2021 stakes.

ClearBridge Investments mentioned Comcast Corporation (NASDAQ:CMCSA) in its “All Cap Growth Strategy” fourth-quarter 2021 investor letter. Here is what the firm said:

“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.”

You can also take a look at 10 Growth Stocks Under $50 for 2022 and 10 Blue Chip Stocks with Dividends.

Follow Insider Monkey on Twitter