Comcast Corporation $CMCSA Stake Lifted by Harbor Island Capital LLC

Key Points

• Harbor Island Capital LLC boosted its Comcast stake by 54.8% in Q4 to 480,401 shares (added 170,000 shares), making Comcast 5.5% of the fund and its ninth-largest holding worth about $14.36 million.
• Comcast announced a quarterly dividend of $0.33 per share (annualized $1.32) for a yield of about 4.7%, with an ex-dividend date of April 1 and payment on April 22.
• Wall Street has a consensus "Hold" rating with an average price target of $34.81 after several recent target cuts, and CEO Michael Cavanagh sold 57,947 shares for roughly $1.89 million, trimming his ownership by 8.52%.

Harbor Island Capital LLC boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 54.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 480,401 shares of the cable giant's stock after purchasing an additional 170,000 shares during the period. Comcast makes up 5.5% of Harbor Island Capital LLC's investment portfolio, making the stock its 9th largest holding. Harbor Island Capital LLC's holdings in Comcast were worth $14,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. Brighton Jones LLC grew its position in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. boosted its holdings in shares of Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock valued at $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank boosted its holdings in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant's stock valued at $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after acquiring an additional 15,865 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Benchmark lowered their target price on shares of Comcast from $46.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, January 5th. The Goldman Sachs Group lowered their target price on shares of Comcast from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, March 25th. Finally, Pivotal Research downgraded shares of Comcast from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $34.81.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.32% of the company's stock.

Comcast Stock Up 0.4%

CMCSA stock opened at $28.05 on Tuesday. The company has a market cap of $100.92 billion, a P/E ratio of 5.22, a P/E/G ratio of 2.33 and a beta of 0.80. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $36.66. The company's 50-day moving average price is $30.12 and its 200 day moving average price is $29.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion for 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 firm's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued 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 4.7%. Comcast's payout ratio is currently 24.58%.

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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