Mirae Asset Global Investments Co. Ltd. Raises Position in Comcast Corporation $CMCSA

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Comcast Corporation by 9.7% during the second quarter, bringing its total shares to 1,527,849, valued at approximately $54.5 million.
• Several institutional investors significantly increased their holdings in Comcast, with Nuveen LLC purchasing over $940 million worth of shares, reflecting a broader trend of increased institutional interest in the stock.
• Comcast's recent quarterly earnings surpassed analyst expectations, reporting $1.25 EPS on revenues of $30.31 billion, indicating a robust performance despite challenging market conditions.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,527,849 shares of the cable giant's stock after buying an additional 134,899 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Comcast were worth $54,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Comcast during the first quarter valued at approximately $940,015,000. Dodge & Cox lifted its holdings in shares of Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after purchasing an additional 12,586,329 shares during the last quarter. KBC Group NV lifted its holdings in shares of Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock valued at $280,238,000 after purchasing an additional 4,128,434 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCSA has been the subject of several recent research reports. Benchmark reiterated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Moffett Nathanson lifted their target price on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, September 12th. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Finally, Barclays reduced their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.07.

Comcast Trading Down 1.7%

NASDAQ:CMCSA opened at $30.40 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $30.38 and a 12 month high of $45.31. The company has a market cap of $112.24 billion, a PE ratio of 5.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The company has a 50 day simple moving average of $32.79 and a two-hundred day simple moving average of $34.20.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast's payout ratio is presently 21.82%.

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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