United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $60.99 Million Investment in Comcast Corporation $CMCSA

Key Points

• United Super Pty Ltd disclosed a new position in Comcast, buying 2,040,546 shares worth about $60.99 million in the fourth quarter. The stake makes Comcast its 29th-largest holding and represents about 0.06% of Comcast’s shares outstanding.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus the $0.73 estimate and revenue of $31.46 billion versus $30.42 billion expected. Revenue rose 5.3% year over year, and analysts now expect full-year EPS of 3.58.
• The company also announced a quarterly dividend of $0.33 per share, equal to an annualized yield of 5.2%. Meanwhile, Wall Street’s consensus rating remains Hold, with an average price target of $34.79.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,040,546 shares of the cable giant's stock, valued at approximately $60,992,000. Comcast makes up approximately 0.8% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's portfolio, making the stock its 29th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned 0.06% of Comcast as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Cora Capital Advisors LLC raised its stake in Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock worth $329,000 after acquiring an additional 362 shares in the last quarter. FSA Advisors Inc. raised its stake in Comcast by 5.5% during the third quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant's stock worth $226,000 after acquiring an additional 376 shares in the last quarter. Oakworth Capital Inc. raised its stake in Comcast by 7.4% during the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant's stock worth $164,000 after acquiring an additional 377 shares in the last quarter. WPG Advisers LLC increased its stake in shares of Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock valued at $84,000 after buying an additional 384 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in shares of Comcast by 55.7% in the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock valued at $32,000 after buying an additional 384 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $25.16 on Friday. The business's 50-day simple moving average is $27.33 and its 200 day simple moving average is $28.57. The stock has a market cap of $89.88 billion, a price-to-earnings ratio of 4.95, a P/E/G ratio of 2.03 and a beta of 0.71. Comcast Corporation has a 12-month low of $24.53 and a 12-month high of $36.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. As a group, research analysts anticipate that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Dividend Announcement

The company 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 is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.2%. Comcast's dividend payout ratio (DPR) is currently 25.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMCSA. Wall Street Zen upgraded Comcast to a "hold" rating in a research note on Saturday, March 14th. Zacks Research upgraded Comcast from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Citigroup raised their target price on Comcast from $33.00 to $35.50 and gave the company a "buy" rating in a research note on Friday, April 24th. BNP Paribas Exane lowered their target price on Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft lowered Comcast from a "buy" rating to a "hold" rating and set a $34.00 target price for the company. in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $34.79.

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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