Vinva Investment Management Ltd Buys 58,677 Shares of Comcast Corporation $CMCSA

Key Points

• Vinva Investment Management Ltd increased its Comcast stake by 23.2% in Q3, buying 58,677 shares to hold 311,734 shares valued at about $9.817 million.
• Comcast declared a quarterly dividend of $0.33 (annualized $1.32) implying a 4.1% yield; the ex-dividend date is April 1 and the payment date is April 22.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 for roughly $1.89 million, trimming his position by 8.52%, and insiders now own 1.26% of the company.

Vinva Investment Management Ltd grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,734 shares of the cable giant's stock after buying an additional 58,677 shares during the quarter. Vinva Investment Management Ltd's holdings in Comcast were worth $9,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. increased its position in shares of Comcast by 3.2% during 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 raised its holdings in shares of Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant's stock valued at $1,507,000 after buying an additional 4,290 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Comcast by 149.8% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 23,231 shares of the cable giant's stock valued at $829,000 after buying an additional 13,932 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC bought a new stake in Comcast in the 2nd quarter worth approximately $230,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

CMCSA opened at $31.91 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $114.81 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The stock's 50 day moving average price is $30.06 and its 200-day moving average price is $29.94. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast's dividend payout ratio (DPR) is currently 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares of the company's stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.26% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CMCSA. Arete Research set a $23.00 price target on shares of Comcast in a research report on Tuesday, January 6th. Moffett Nathanson lowered their price objective on shares of Comcast from $58.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, November 13th. BNP Paribas Exane cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $27.00 price objective for the company. in a research note on Tuesday, February 24th. UBS Group decreased their target price on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $34.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.