SEB Asset Management AB Makes New Investment in Comcast Corporation $CMCSA

Key Points

• SEB Asset Management AB initiated a new position in Comcast during the first quarter, buying 943,525 shares valued at about $27.1 million.
• Institutional ownership in Comcast remains high, with hedge funds and other institutional investors holding 84.32% of the company’s shares.
• Analysts are mixed on the stock: Comcast currently carries a “Hold” consensus rating with an average price target of $33.64, while the stock recently traded at $23.79 and offers a 5.5% dividend yield.

SEB Asset Management AB bought a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 943,525 shares of the cable giant's stock, valued at approximately $27,089,000.

Several other institutional investors also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC raised its position in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. raised its stake in Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock valued at $2,963,000 after purchasing an additional 2,593 shares during the last quarter. United Bank lifted its stake in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in shares of Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock worth $606,000 after purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock worth $1,414,000 after acquiring an additional 15,865 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of several recent analyst reports. UBS Group reissued a "neutral" rating on shares of Comcast in a research note on Tuesday, June 23rd. Morgan Stanley reduced their price objective on Comcast from $33.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 7th. New Street Research decreased their price target on shares of Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, June 25th. Freedom Capital raised Comcast to a "hold" rating in a research report on Friday, June 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Comcast in a report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and a consensus target price of $33.64.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $23.79 on Monday. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.01. The firm has a market capitalization of $84.98 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The business's 50 day simple moving average is $24.00 and its 200-day simple moving average is $27.48. 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 released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion during 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. Comcast's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Comcast Corporation will post 3.48 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast's dividend payout ratio is currently 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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