Capital International Investors Boosts Stock Position in Comcast Corporation $CMCSA

Key Points

• Capital International Investors boosted its Comcast stake by 1.4% to 15,169,989 shares (≈$476.66M), and institutional investors now own about 84.32% of the stock.
• Comcast beat quarterly EPS estimates ($0.84 vs. $0.75) with revenue of $32.31B (+1.2% YoY) and declared a quarterly dividend of $0.33, implying an annual yield of roughly 4.2%.
• Analysts' consensus is a Hold with an average price target of $34.87 after several firms trimmed targets; ratings breakdown: 10 Buys, 15 Holds, 4 Sells.

Capital International Investors grew its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,169,989 shares of the cable giant's stock after purchasing an additional 203,702 shares during the period. Capital International Investors owned approximately 0.42% of Comcast worth $476,661,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CMCSA. Osaic Holdings Inc. lifted its stake in Comcast by 39.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant's stock valued at $37,954,000 after acquiring an additional 300,898 shares during the period. Vanguard Group Inc. increased its stake in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant's stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Comcast by 9.7% during the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant's stock worth $236,810,000 after purchasing an additional 665,635 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in Comcast by 75.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant's stock valued at $10,707,000 after purchasing an additional 146,339 shares during the period. Finally, Candriam S.C.A. lifted its position in Comcast by 3.5% during the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant's stock valued at $29,917,000 after purchasing an additional 32,262 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of several analyst reports. Sanford C. Bernstein cut their price target on Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a research report on Thursday, January 15th. Scotiabank decreased their price objective on Comcast from $37.50 to $35.25 and set a "sector perform" rating for the company in a report on Friday, January 30th. Royal Bank Of Canada lowered their target price on Comcast from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Friday, January 16th. Barclays set a $28.00 price target on Comcast and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. Finally, Moffett Nathanson decreased their price target on Comcast from $58.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, November 13th. Ten research 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. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $34.87.

Comcast Trading Up 0.1%

CMCSA stock opened at $31.07 on Wednesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $111.79 billion, a P/E ratio of 5.79, a PEG ratio of 2.42 and a beta of 0.79. The company's 50-day simple moving average is $30.10 and its 200-day simple moving average is $29.90.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's payout ratio is 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by insiders.

Comcast 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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