5 Best Telecom Dividend Stocks To Buy for 2023

1. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 72

Comcast Corporation (NASDAQ:CMCSA) tops our list of the best dividend stocks. The telecommunications company announced a 7.4% hike in its quarterly dividend to $0.29 per share on January 26. Through this increase, the company took its dividend growth streak to 15 years. As of April 12, the stock has a dividend yield of 3.05%.

Comcast Corporation (NASDAQ:CMCSA) was a part of 72 hedge fund portfolios in Q4 2022, down from 73 in the previous quarter, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of roughly $3.67 billion.

ClearBridge Investments mentioned Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter. Here is what the firm has to say:

“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.”

You can also take a look at 12 Best Covid Treatment Stocks to Buy Today and 10 Best Edge Computing Stocks to Buy Now

Follow Insider Monkey on Twitter