Cairn Investment Group Inc. Has $3.21 Million Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Cairn Investment Group boosted its Comcast stake by 867.8% in the first quarter, adding 100,405 shares to reach 111,975 shares valued at about $3.21 million.
• Comcast reported better-than-expected quarterly results, with earnings of $0.79 per share on revenue of $31.46 billion, and revenue rose 5.3% year over year.
• The company also announced a quarterly dividend of $0.33 per share, equal to a 5.6% annualized yield, while analysts remain cautious overall with a consensus rating of Hold.

Cairn Investment Group Inc. grew its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 867.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,975 shares of the cable giant's stock after acquiring an additional 100,405 shares during the period. Comcast accounts for 1.6% of Cairn Investment Group Inc.'s portfolio, making the stock its 24th largest holding. Cairn Investment Group Inc.'s holdings in Comcast were worth $3,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Vanguard Group Inc. boosted its position in Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after buying an additional 2,160,829 shares during the last quarter. North Dakota State Investment Board acquired a new stake in shares of Comcast during the fourth quarter worth $3,754,000. Vest Financial LLC increased its holdings in Comcast by 72.1% in the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant's stock valued at $6,961,000 after purchasing an additional 97,601 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Comcast by 53.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant's stock valued at $6,161,000 after buying an additional 72,129 shares during the period. Finally, Invesco Ltd. boosted its holdings in Comcast by 10.0% during the fourth quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant's stock worth $1,295,200,000 after buying an additional 3,952,642 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 0.1%

Comcast stock opened at $23.41 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 1-year low of $22.13 and a 1-year high of $36.06. The company has a fifty day simple moving average of $24.50 and a 200 day simple moving average of $27.83. The company has a market cap of $83.63 billion, a P/E ratio of 4.61, a price-to-earnings-growth ratio of 1.92 and a beta of 0.67.

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, topping the consensus estimate of $0.73 by $0.06. The firm 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 company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. Research analysts anticipate that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's dividend payout ratio is presently 25.98%.

More Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast’s Sky unit agreed to buy ITV’s media and entertainment business for about $2.1 billion, a deal that could strengthen Sky’s content portfolio and expand Comcast’s international media presence. Reuters article
• Positive Sentiment: Comcast announced that its Greater Phillipsburg network expansion is now more than halfway complete, extending high-speed internet and related services to more than 15,700 additional homes and businesses. That supports long-term broadband growth and could improve subscriber momentum. Yahoo Finance article
• Neutral Sentiment: Investors have been heavily searching Comcast, suggesting heightened attention as the stock trades near its 52-week low and well below its 50-day and 200-day moving averages. Yahoo Finance article
• Neutral Sentiment: Comcast was noted as “oversold vs. undervalued” in a retirement-investor screening article, which may reflect value interest but does not change fundamentals by itself. 247WallSt article
• Negative Sentiment: Wells Fargo cut its price target on Comcast to $28 from $29 and reiterated an underweight rating, signaling skepticism about near-term upside. Benzinga article
• Negative Sentiment: Morgan Stanley also lowered its price target to $30 from $33 and kept an equal-weight rating, adding to the cautious analyst tone around the stock. Benzinga article

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CMCSA. Weiss Ratings reissued a "hold (c-)" rating on shares of Comcast in a research note on Wednesday, April 8th. Wells Fargo & Company reduced their target price on Comcast from $29.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday. KeyCorp restated a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. New Street Research dropped their price target on Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, June 25th. Finally, Citigroup dropped their target price on shares of Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $34.04.

About Comcast

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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