Meeder Asset Management Inc. Buys 61,216 Shares of Comcast Corporation $CMCSA

Key Points

• Meeder Asset Management increased its Comcast stake by 80.3% in the first quarter, buying 61,216 additional shares and bringing its total holdings to 137,452 shares worth about $3.95 million.
• Comcast’s stock remains broadly favored by institutions, with hedge funds and other institutional investors owning 84.32% of the company’s shares. Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $33.64.
• Comcast reported quarterly earnings of $0.79 per share, topping estimates, and revenue of $31.46 billion, up 5.3% year over year. The company also announced a quarterly dividend of $0.33 per share, implying a 5.5% annualized yield.

Meeder Asset Management Inc. boosted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 80.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,452 shares of the cable giant's stock after purchasing an additional 61,216 shares during the quarter. Meeder Asset Management Inc.'s holdings in Comcast were worth $3,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Imprint Wealth LLC bought a new position in shares of Comcast in the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC boosted its holdings in Comcast by 75.5% in the 1st 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 bought a new position in Comcast in the 1st quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Comcast during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CMCSA shares. Scotiabank decreased their price target on shares of Comcast from $36.00 to $32.75 and set a "sector perform" rating on the stock in a report on Wednesday, July 15th. Freedom Capital upgraded Comcast to a "hold" rating in a research report on Friday, June 12th. KeyCorp restated a "sector weight" rating on shares of Comcast in a research note on Thursday, April 23rd. Royal Bank Of Canada raised their price target on Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Finally, The Goldman Sachs Group dropped their price target on Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $33.64.

Comcast Stock Performance

NASDAQ CMCSA opened at $23.79 on Monday. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01. The company has a fifty day moving average of $24.00 and a 200-day moving average of $27.48. The company has a market capitalization of $84.98 billion, a P/E ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

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, beating analysts' consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. 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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