American Assets Investment Management LLC Has $2.99 Million Stake in Comcast Corporation $CMCSA

Key Points

• American Assets Investment Management boosted its Comcast stake by 66.7% in the fourth quarter, buying 40,000 additional shares and bringing its total to 100,000 shares worth about $2.99 million.
• Comcast’s latest quarter beat expectations, with EPS of $0.79 versus the $0.73 consensus and revenue of $31.46 billion versus $30.42 billion expected.
• Wall Street remains cautious overall: analysts have a consensus "Hold" rating on CMCSA, with an average price target of $34.94, while the stock recently traded near its 12-month low at $25.39.

American Assets Investment Management LLC increased its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the cable giant's stock after buying an additional 40,000 shares during the period. American Assets Investment Management LLC's holdings in Comcast were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Capital Research Global Investors raised its position in Comcast by 46.1% during the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock valued at $1,059,053,000 after purchasing an additional 10,633,206 shares in the last quarter. State Street Corp raised its position in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock valued at $5,677,190,000 after purchasing an additional 7,917,335 shares in the last quarter. SG Americas Securities LLC raised its position in Comcast by 2,970.5% during the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock valued at $221,028,000 after purchasing an additional 7,153,895 shares in the last quarter. Two Sigma Investments LP raised its position in Comcast by 1,356.2% during the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock valued at $205,993,000 after purchasing an additional 6,105,867 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock worth $178,634,000 after buying an additional 4,240,876 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMCSA. Citigroup boosted their target price on shares of Comcast from $33.00 to $35.50 and gave the stock a "buy" rating in a research note on Friday, April 24th. Zacks Research raised shares of Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Royal Bank Of Canada boosted their target price on shares of Comcast from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $29.00 target price on shares of Comcast in a research note on Thursday, April 23rd. Finally, Barclays set a $28.00 target price on shares of Comcast and gave the stock an "equal weight" rating in a research note on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of "Hold" and an average price target of $34.94.

Comcast Stock Performance

Shares of CMCSA opened at $25.39 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $90.71 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The firm's fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $28.93. Comcast Corporation has a 12 month low of $25.35 and a 12 month high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, analysts predict that Comcast Corporation will post 3.58 EPS for the current year.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company's stock, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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