Commerzbank Aktiengesellschaft FI Raises Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Commerzbank Aktiengesellschaft FI significantly increased its Comcast stake by 295.5% in the first quarter, adding 1.9 million shares to bring its total holding to 2.55 million shares worth about $73.1 million.
• Comcast reported better-than-expected quarterly results, posting EPS of $0.79 versus $0.73 expected and revenue of $31.46 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $0.33 per share, equal to an annualized yield of about 5.6%, while analysts currently hold a consensus rating of “Hold” with a $33.45 price target.

Commerzbank Aktiengesellschaft FI boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 295.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,545,992 shares of the cable giant's stock after acquiring an additional 1,902,233 shares during the quarter. Comcast comprises about 1.5% of Commerzbank Aktiengesellschaft FI's portfolio, making the stock its 20th largest position. Commerzbank Aktiengesellschaft FI owned about 0.07% of Comcast worth $73,095,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CMCSA. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Comcast by 4.9% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant's stock worth $225,000 after purchasing an additional 352 shares during the last quarter. Cora Capital Advisors LLC lifted its holdings in shares of Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock worth $329,000 after purchasing an additional 362 shares during the period. Oakworth Capital Inc. boosted its position in Comcast by 7.4% in the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant's stock valued at $164,000 after buying an additional 377 shares during the last quarter. WPG Advisers LLC boosted its position in Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock valued at $84,000 after buying an additional 384 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock worth $32,000 after buying an additional 384 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.0%

Shares of NASDAQ CMCSA opened at $23.78 on Tuesday. The firm has a market cap of $84.95 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company's 50-day simple moving average is $23.98 and its 200-day simple moving average is $27.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. Comcast's dividend payout ratio is presently 25.98%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research reports. Evercore lifted their price objective on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Morgan Stanley reduced their target price on shares of Comcast from $33.00 to $30.00 and set an "equal weight" rating for the company in a report on Tuesday, July 7th. Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Comcast in a research note on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $33.45.

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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