KLP Kapitalforvaltning AS Buys 324,800 Shares of Comcast Corporation $CMCSA

Key Points

• KLP Kapitalforvaltning AS boosted its Comcast stake by 19.7%, buying 324,800 shares to hold 1,971,906 shares worth about $58.94 million (roughly 0.05% of the company).
• Comcast declared a quarterly dividend of $0.33 per share (annualized $1.32), a yield of ~4.5%; the ex-dividend date is April 1 and payment is scheduled for April 22.
• Comcast beat Q4 EPS expectations at $0.84 vs $0.75 (revenue $32.31B vs $32.35B estimate); the stock trades near $29 with a PE of 5.41 and about 84% institutional ownership.

KLP Kapitalforvaltning AS lifted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,971,906 shares of the cable giant's stock after acquiring an additional 324,800 shares during the period. KLP Kapitalforvaltning AS owned 0.05% of Comcast worth $58,940,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CMCSA. Capital Research Global Investors raised its position in shares of Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant's stock worth $1,059,053,000 after acquiring an additional 10,633,206 shares in the last quarter. State Street Corp raised its position in shares of Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. SG Americas Securities LLC grew its stake in Comcast by 2,970.5% during the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant's stock worth $221,028,000 after buying an additional 7,153,895 shares during the last quarter. Two Sigma Investments LP grew its stake in Comcast by 1,356.2% during the 3rd quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant's stock worth $205,993,000 after buying an additional 6,105,867 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in Comcast by 554.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant's stock worth $178,634,000 after buying an additional 4,240,876 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 2.3%

Comcast stock opened at $29.05 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The business's 50-day simple moving average is $29.88 and its two-hundred day simple moving average is $29.09. The company has a market cap of $104.52 billion, a PE ratio of 5.41, a PEG ratio of 2.47 and a beta of 0.80. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Equities analysts anticipate that Comcast Corporation will post 3.46 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, April 1st. Comcast's payout ratio is presently 24.58%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMCSA. Wall Street Zen upgraded Comcast to a "hold" rating in a research note on Saturday, March 14th. Pivotal Research downgraded Comcast from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Rosenblatt Securities restated a "neutral" rating and set a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. TD Cowen dropped their target price on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Finally, BNP Paribas Exane dropped their target price on Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $34.81.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was 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 in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company's stock.

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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