Fulcrum Asset Management LLP Buys 255,430 Shares of Comcast Corporation $CMCSA

Key Points

• Fulcrum Asset Management increased its Comcast stake by 865.6% in the third quarter, adding 255,430 shares to hold 284,938 shares worth about $6.16 million.
• Comcast reported quarterly EPS of $1.07, above the $0.99 analyst consensus, and revenue of $29.30 billion, also slightly ahead of estimates; revenue was down 6.1% year over year.
• Comcast announced a quarterly dividend of $0.33 per share, equivalent to a 5.4% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $28.77.

Fulcrum Asset Management LLP increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 865.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 284,938 shares of the cable giant's stock after acquiring an additional 255,430 shares during the period. Fulcrum Asset Management LLP's holdings in Comcast were worth $6,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Allied Private Wealth LLC purchased a new position in Comcast during the second quarter worth approximately $26,000. Whipplewood Advisors LLC grew its holdings in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD acquired a new stake in Comcast in the first quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Comcast in the third quarter valued at approximately $27,000. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Comcast in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

NASDAQ:CMCSA opened at $24.39 on Monday. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $86.61 billion, a PE ratio of 7.72, a P/E/G ratio of 1.72 and a beta of 0.72. The stock has a 50 day moving average price of $23.14 and a 200 day moving average price of $25.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.08. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. Equities research analysts expect that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. Comcast's dividend payout ratio (DPR) is 41.77%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research analyst reports. Bank of America reaffirmed a "buy" rating and set a $35.00 target price (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. KeyCorp cut shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 price target on the stock. in a research note on Thursday, September 24th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a "sector perform" rating in a research note on Friday, July 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $23.00 price target on shares of Comcast in a report on Thursday, October 22nd. Finally, Weiss Ratings cut shares of Comcast from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 23rd. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.77.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.

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