Cantor Fitzgerald L. P. Makes New $1.89 Million Investment in Comcast Corporation $CMCSA

Key Points

• Cantor Fitzgerald L.P. purchased a new position in Comcast, buying 60,000 shares valued at approximately $1.885 million in the third quarter.
• Several large institutions also reshaped positions: Norges Bank initiated a roughly $3.53 billion stake, Dodge & Cox increased to 111,272,320 shares (~$3.97 billion), and Two Sigma surged its holding by 1,356.2%.
• Comcast beat EPS estimates with $0.84 vs. $0.75 consensus, reported $32.31 billion in revenue, and announced a quarterly dividend of $0.33 (annualized $1.32, ~4.4% yield).

Cantor Fitzgerald L. P. purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 60,000 shares of the cable giant's stock, valued at approximately $1,885,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Norges Bank bought a new stake in Comcast during the second quarter worth approximately $3,528,361,000. Dodge & Cox boosted its stake in Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant's stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Capital Research Global Investors boosted its stake in Comcast by 46.1% during the 3rd 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. Two Sigma Investments LP increased its position in shares of Comcast by 1,356.2% during the 3rd 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 during the period. Finally, First Trust Advisors LP raised its stake in shares of Comcast by 133.1% in the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant's stock worth $363,580,000 after buying an additional 5,817,614 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $30.16 on Friday. The stock's fifty day simple moving average is $30.13 and its 200 day simple moving average is $29.85. The stock has a market capitalization of $108.51 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.35 and a beta of 0.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Comcast's revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. Comcast's dividend payout ratio is currently 24.58%.

Analyst Ratings Changes

Several analysts have recently weighed in on CMCSA shares. Benchmark cut their price objective on Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a report on Monday, January 5th. Citigroup reaffirmed a "buy" rating and set a $33.00 target price (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Rosenblatt Securities reissued a "neutral" rating and issued a $30.00 price target on shares of Comcast in a report on Friday, January 30th. Zacks Research downgraded shares of Comcast from a "hold" rating to a "strong sell" rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada lowered their price objective on shares of Comcast from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Friday, January 16th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.87.

Insider Activity at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.32% of the stock is currently owned by 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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