Comcast Corporation $CMCSA Shares Purchased by CX Institutional

Key Points

• CX Institutional raised its stake in Comcast by 27.4%, buying an additional 49,935 shares to hold 232,096 shares valued at about $6.94 million at quarter-end.
• Comcast beat quarterly estimates with EPS of $0.79 (vs. $0.73 expected) and revenue of $31.46 billion, and the company has a market cap of about $97.04 billion with a P/E of 5.35.
• Institutional investors own roughly 84.32% of the stock (large positions include Vanguard and State Street), and analysts' consensus is a Hold rating with an average price target of $34.94.

CX Institutional increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 27.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 232,096 shares of the cable giant's stock after acquiring an additional 49,935 shares during the period. CX Institutional's holdings in Comcast were worth $6,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. State Street Corp raised its position in shares of Comcast by 4.6% in the 3rd 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. Dodge & Cox raised its position in shares of Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant's stock valued at $3,536,884,000 after purchasing an additional 1,295,598 shares in the last quarter. Capital Research Global Investors raised its position in shares of Comcast by 46.1% in 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. Finally, Legal & General Group Plc raised its position in shares of Comcast by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant's stock valued at $757,372,000 after purchasing an additional 686,520 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

CMCSA stock opened at $27.17 on Monday. 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 firm has a market cap of $97.04 billion, a P/E ratio of 5.35, a P/E/G ratio of 2.19 and a beta of 0.71. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. The stock's 50 day simple moving average is $29.39 and its 200 day simple moving average is $28.99.

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

Analyst Ratings Changes

A number of brokerages have issued reports on CMCSA. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Comcast in a research report on Wednesday, April 8th. Sanford C. Bernstein cut their target price 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. Royal Bank Of Canada upped their target price on Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $29.00 target price on shares of Comcast in a research report on Thursday, April 23rd. Finally, Wall Street Zen raised Comcast to a "hold" rating in a research report on Saturday, March 14th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $34.94.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company'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 transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

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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