Comcast Corporation $CMCSA Shares Bought by Dodge & Cox

Key Points

• Dodge & Cox raised its Comcast stake 1.2% in Q3 to 112,567,918 shares (about 3.09% of the company), valued at roughly $3.54 billion and making CMCSA its 13th-largest holding.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 for about $1.89 million (an 8.52% reduction in his holdings); company insiders now own approximately 1.32% of Comcast.
• Comcast declared a $0.33 quarterly dividend (annualized $1.32) for a ~4.4% yield; the stock trades at a low P/E of 5.62, has a market cap near $108.5 billion, and carries a consensus Wall Street rating of Hold (target $34.87).

Dodge & Cox grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,567,918 shares of the cable giant's stock after buying an additional 1,295,598 shares during the period. Comcast accounts for about 1.9% of Dodge & Cox's holdings, making the stock its 13th largest holding. Dodge & Cox owned about 3.09% of Comcast worth $3,536,884,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its stake in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. lifted its position in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after buying an additional 2,593 shares during the last quarter. United Bank boosted its holdings in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant's stock valued at $1,507,000 after buying an additional 4,290 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Comcast by 30.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,947 shares of the cable giant's stock valued at $105,000 after buying an additional 680 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Comcast in the 2nd quarter valued at $930,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $30.16 on Friday. The firm's fifty day moving average is $30.13 and its two-hundred day moving average is $29.88. Comcast Corporation has a one year low of $25.75 and a one year high of $37.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $108.51 billion, a PE ratio of 5.62, a P/E/G ratio of 2.35 and a beta of 0.79.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 1st. Comcast's dividend payout ratio (DPR) is 24.58%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMCSA. Barclays set a $28.00 price target on shares of Comcast and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. Daiwa Securities Group dropped their price objective on Comcast from $38.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, November 18th. Citigroup reissued a "buy" rating and issued a $33.00 target price (up from $32.79) on shares of Comcast in a report on Friday, January 30th. TD Cowen decreased their target price on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Comcast in a research note on Friday, January 9th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and a consensus target price of $34.87.

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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