KBC Group NV Purchases 8,928,641 Shares of Comcast Corporation (NASDAQ:CMCSA)

KBC Group NV increased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 724.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,160,649 shares of the cable giant's stock after acquiring an additional 8,928,641 shares during the period. Comcast comprises about 1.2% of KBC Group NV's investment portfolio, making the stock its 15th biggest holding. KBC Group NV owned 0.27% of Comcast worth $374,927,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Root Financial Partners LLC grew its holdings in shares of Comcast by 32.0% in the first quarter. Root Financial Partners LLC now owns 10,233 shares of the cable giant's stock worth $378,000 after acquiring an additional 2,480 shares during the period. Joel Isaacson & Co. LLC grew its holdings in Comcast by 12.5% during the first quarter. Joel Isaacson & Co. LLC now owns 187,107 shares of the cable giant's stock valued at $6,904,000 after purchasing an additional 20,812 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Comcast by 1.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,960,493 shares of the cable giant's stock valued at $404,442,000 after purchasing an additional 140,062 shares during the period. Cornerstone Advisors Asset Management LLC grew its holdings in Comcast by 7.5% during the first quarter. Cornerstone Advisors Asset Management LLC now owns 7,847 shares of the cable giant's stock valued at $290,000 after purchasing an additional 547 shares during the period. Finally, Patron Partners LLC grew its holdings in Comcast by 21.1% during the first quarter. Patron Partners LLC now owns 13,145 shares of the cable giant's stock valued at $485,000 after purchasing an additional 2,288 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

NASDAQ:CMCSA opened at $35.32 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $131.87 billion, a P/E ratio of 8.68, a P/E/G ratio of 1.70 and a beta of 0.95. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The business's 50-day moving average is $34.61 and its 200 day moving average is $35.61.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast 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, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.74%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent research reports. Citigroup cut their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 25th. KeyCorp dropped their price objective on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Barclays dropped their price objective on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Oppenheimer dropped their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, UBS Group set a $44.50 price objective on Comcast in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.10.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

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