ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “ClearBridge Multi Cap Growth Strategy” investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 3000 Growth Index benchmark. The Strategy gained in six of the seven sectors on an absolute basis in which it was invested. Health care, industrials, and communication services sectors were the primary contributors, while IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Multi Cap Growth Strategy highlighted stocks Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter. Headquartered in Philadelphia, Pennsylvania, Comcast Corporation (NASDAQ:CMCSA) is a media and technology company. On February 17, 2023, Comcast Corporation (NASDAQ:CMCSA) stock closed at $39.12 per share. One-month return of Comcast Corporation (NASDAQ:CMCSA) was -0.64%, and its shares lost 16.12% of their value over the last 52 weeks. Comcast Corporation (NASDAQ:CMCSA) has a market capitalization of $164.932 billion.
ClearBridge Multi Cap Growth Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter:
“That balance served the Strategy well throughout the year, enabling outperformance against the benchmark in all four quarters. Results in the last three months were driven by a long-time media position in Comcast Corporation (NASDAQ:CMCSA), which we consider a durable compounder due to its consistent revenue growth and free cash flow generation. Comcast shares saw a snapback after a difficult first half of the year caused by cord cutting in its cable business and slowing subscriber growth in its broadband business. A flexible balance sheet and strong cash generation enabled the company to repurchase shares during the selloff earlier in the year.”
Copyright: jetcityimage / 123RF Stock Photo
Comcast Corporation (NASDAQ:CMCSA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held Comcast Corporation (NASDAQ:CMCSA) at the end of the third quarter, which was 75 in the previous quarter.
We discussed Comcast Corporation (NASDAQ:CMCSA) in another article and shared Diamond Hill Large Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 10 Best Annuity Companies in the US
- 15 Best Safe Dividend Stocks for 2023
- 10 Best Stocks to Buy for Income
Disclosure: None. This article is originally published at Insider Monkey.
