Is it Still Worthy to Own Comcast (CMCSA) Shares?

ClearBridge Investments, an investment management firm, published its “All Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge All Cap Growth Strategy underperformed its Russell 3000 Growth Index benchmark in the fourth quarter. On an absolute basis, the Strategy generated gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The primary contributors to performance were the IT and health care sectors while the sole detractor was the communication services sector Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge All Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Comcast Corporation (NASDAQ:CMCSA) and discussed its stance on the firm. Founded in 1963, Comcast Corporation (NASDAQ:CMCSA) is a Philadelphia, Pennsylvania-based telecommunications company with a $216.2 billion market capitalization, and is currently spearheaded by its CEO, Brian L. Roberts. Comcast Corporation (NASDAQ:CMCSA) delivered a -5.23% return since the beginning of the year, while its 12-month returns are down by -12.88%. The stock closed at $47.70 per share on April 01, 2022.

Here is what ClearBridge All Cap Growth Strategy has to say about Comcast Corporation (NASDAQ:CMCSA) in its Q4 2021 investor letter:

“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.”

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Our calculations show that Comcast Corporation (NASDAQ:CMCSA) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Comcast Corporation (NASDAQ:CMCSA) was in 80 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 75 funds in the previous quarter. Comcast Corporation (NASDAQ:CMCSA) delivered a -5.23% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Comcast Corporation (NASDAQ:CMCSA) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.