6,213,573 Shares of Comcast Corporation $CMCSA Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments purchased 6.21 million Comcast shares worth approximately $135.2 million, taking an estimated 0.18% stake. Institutional investors collectively own 84.32% of Comcast.
• Analysts remain mixed on Comcast, with an overall “Hold” rating and an average price target of $29.17; several firms recently lowered their targets.
• Comcast exceeded quarterly earnings expectations with $1.07 in EPS and $29.30 billion in revenue, though revenue declined 6.1% year over year. The company declared a quarterly dividend of $0.33 per share, representing a 5.7% annualized yield.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,213,573 shares of the cable giant's stock, valued at approximately $135,207,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.18% of Comcast as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock worth $1,173,232,000 after buying an additional 3,783,234 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Comcast by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant's stock valued at $845,919,000 after buying an additional 507,097 shares during the last quarter. First Trust Advisors LP raised its stake in Comcast by 4.9% during the 1st quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant's stock worth $390,231,000 after acquiring an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after acquiring an additional 10,359,800 shares during the last quarter. Finally, Swiss National Bank lifted its position in Comcast by 5.7% in the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant's stock valued at $306,227,000 after acquiring an additional 574,300 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of several research analyst reports. BNP Paribas Exane decreased their price objective on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, July 14th. Bank of America reissued a "buy" rating and issued a $35.00 target price (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Morgan Stanley reduced their target price on Comcast from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday, September 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $23.00 target price on shares of Comcast in a research report on Thursday, October 22nd. Finally, TD Cowen cut their price target on Comcast from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $29.17.

Comcast Trading Up 4.3%

NASDAQ:CMCSA opened at $23.22 on Friday. Comcast Corporation has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock's 50 day simple moving average is $23.40 and its 200-day simple moving average is $26.09. The firm has a market cap of $82.45 billion, a P/E ratio of 7.35, a PEG ratio of 1.64 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. The firm had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. Comcast's quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. Equities analysts anticipate that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast's dividend payout ratio is currently 41.77%.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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