Geode Capital Management LLC Has $2.68 Billion Holdings in Comcast Corporation $CMCSA

Key Points

• Geode Capital Management increased its Comcast stake by 1.7% in the fourth quarter, ending with 89.9 million shares valued at about $2.68 billion.
• Other major institutions also boosted holdings, and 84.32% of Comcast’s stock is now owned by institutional investors and hedge funds.
• Comcast beat quarterly expectations with EPS of $0.79 and revenue of $31.46 billion, while also announcing a $0.33 quarterly dividend that annualizes to a 5.2% yield.

Geode Capital Management LLC grew its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,913,362 shares of the cable giant's stock after purchasing an additional 1,465,428 shares during the period. Geode Capital Management LLC owned about 2.47% of Comcast worth $2,680,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the last quarter. State Street Corp increased its holdings in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the last quarter. Dodge & Cox increased its holdings in Comcast by 1.2% during the third quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant's stock worth $3,536,884,000 after buying an additional 1,295,598 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Comcast by 0.7% during the fourth quarter. First Eagle Investment Management LLC now owns 36,171,945 shares of the cable giant's stock worth $1,081,179,000 after buying an additional 245,271 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Comcast by 46.1% during the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock worth $1,059,053,000 after buying an additional 10,633,206 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $29.00 target price on shares of Comcast in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Comcast from a "buy" rating to a "hold" rating and set a $34.00 target price on the stock. in a report on Friday, April 24th. KeyCorp restated a "sector weight" rating on shares of Comcast in a report on Thursday, April 23rd. BNP Paribas Exane lowered their target price on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a report on Wednesday, April 8th. Finally, Morgan Stanley boosted their target price on shares of Comcast from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.79.

Comcast Price Performance

NASDAQ:CMCSA opened at $25.22 on Thursday. Comcast Corporation has a one year low of $24.53 and a one year high of $36.66. The company has a market cap of $90.09 billion, a P/E ratio of 4.96, a P/E/G ratio of 2.02 and a beta of 0.71. The firm's fifty day moving average price is $27.43 and its two-hundred day moving average price is $28.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's payout ratio is presently 25.98%.

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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