Is Comcast Corporation (CMCSA) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, key money managers have jumped into Comcast Corporation (NASDAQ:CMCSA) headfirst. Renaissance Technologies, founded by Jim Simons, assembled the largest position in Comcast Corporation (NASDAQ:CMCSA). Renaissance Technologies had $179 million invested in the company at the end of the quarter. Donald Yacktman’s Yacktman Asset Management also initiated a $123.5 million position during the quarter. The other funds with brand new CMCSA positions are James Crichton’s Hitchwood Capital Management, Michael Pausic’s Foxhaven Asset Management, and Solomon Kumin’s Folger Hill Asset Management.

Let’s check out hedge fund activity in other stocks similar to Comcast Corporation (NASDAQ:CMCSA). These stocks are Medtronic, Inc. (NYSE:MDT), Cisco Systems, Inc. (NASDAQ:CSCO), Philip Morris International Inc. (NYSE:PM), and International Business Machines Corp. (NYSE:IBM). This group of stocks’ market caps match CMCSA’s market cap.

As you can see these stocks had an average of 52 hedge funds with bullish positions and the average amount invested in these stocks was $5.53 billion. That figure was $8.78 billion in CMCSA’s case. Cisco Systems, Inc. (NASDAQ:CSCO) is the most popular stock in this table. On the other hand Philip Morris International Inc. (NYSE:PM) is the least popular one with only 35 bullish hedge fund positions. Compared to these stocks Comcast Corporation (NASDAQ:CMCSA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None