Sumitomo Mitsui Trust Group Inc. Has $398.73 Million Stock Position in Comcast Corporation $CMCSA

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Comcast Corporation by 1.9% in Q2, holding approximately 11,172,008 shares worth about $398.73 million.
• 84.32% of Comcast's stock is currently owned by institutional investors and hedge funds, reflecting significant institutional interest in the company.
• Analysts have mixed ratings for Comcast; with one strong buy, twelve buys, fourteen holds, and three sell ratings, the consensus price target is set at $39.76.

Sumitomo Mitsui Trust Group Inc. boosted its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,172,008 shares of the cable giant's stock after purchasing an additional 211,515 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of Comcast worth $398,729,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. West Michigan Advisors LLC raised its holdings in Comcast by 49.9% in the 2nd quarter. West Michigan Advisors LLC now owns 9,554 shares of the cable giant's stock valued at $341,000 after acquiring an additional 3,181 shares during the period. ARGA Investment Management LP bought a new position in Comcast in the 2nd quarter valued at about $1,403,000. Caitong International Asset Management Co. Ltd bought a new position in Comcast in the 2nd quarter valued at about $263,000. Asset Management One Co. Ltd. increased its holdings in shares of Comcast by 4.3% during the second quarter. Asset Management One Co. Ltd. now owns 1,667,252 shares of the cable giant's stock worth $59,504,000 after purchasing an additional 68,223 shares during the period. Finally, AlTi Global Inc. increased its holdings in shares of Comcast by 15.8% during the second quarter. AlTi Global Inc. now owns 30,770 shares of the cable giant's stock worth $1,100,000 after purchasing an additional 4,204 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMCSA. Royal Bank Of Canada began coverage on shares of Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 target price on the stock. Bank of America reduced their price target on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Arete Research upgraded shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Rosenblatt Securities reduced their price target on shares of Comcast from $38.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, October 17th. Finally, Sanford C. Bernstein reduced their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Comcast currently has an average rating of "Hold" and a consensus price target of $39.76.

Comcast Stock Up 0.9%

Comcast stock opened at $29.56 on Friday. Comcast Corporation has a 52-week low of $29.15 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50 day moving average price of $32.01 and a two-hundred day moving average price of $33.55. The firm has a market cap of $109.12 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.34 billion during the quarter. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Company 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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.