14 Best Affordable Stocks to Buy According to Hedge Funds

5. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 80

Share Price as of March 22: $36.75

P/E Ratio as of March 22: 8.88

Comcast Corporation (NASDAQ:CMCSA), ranking 5th among the best affordable stocks, is a Pennsylvania-based multinational media and technology giant. On January 29, the company announced the launch of ultra-low lag Internet for smoother gaming, video calls, and virtual reality on apps like FaceTime, Meta headsets, and NVIDIA’s GeForce NOW. Unlike 5G home Internet, it offers a more stable connection. After a year of successful testing, the initial rollout has begun in cities like Atlanta, Chicago, and Philadelphia, with nationwide expansion planned.

On January 30, Comcast Corporation (NASDAQ:CMCSA) announced a $0.33 per share quarterly dividend, a 6.5% increase from its earlier dividend of $0.31. The dividend is payable on April 23, to shareholders of the company recorded as of April 2. The company also approved a new $15 billion share repurchase program with no set expiration date.

Comcast Corporation (NASDAQ:CMCSA) had a strong 2024 overall. Fourth quarter adjusted EBITDA grew 9.9% and 1.2% for the year, while adjusted EPS jumped 14% in Q4 and 9% for the full year. The company generated $3.3 billion in free cash flow for Q4 and $12.5 billion for the year. Shareholders saw a total return of $13.5 billion, including $8.6 billion in stock buybacks, reducing outstanding shares by 5%.

Among the hedge funds tracked by Insider Monkey in Q4, 80 funds reported owning stakes in Comcast Corporation (NASDAQ:CMCSA), compared to 72 funds in the last quarter.