WBI Investments LLC Acquires Shares of 22,864 Comcast Corporation $CMCSA

Key Points

• WBI Investments LLC has acquired 22,864 shares of Comcast Corporation, valued at approximately $844,000, during the first quarter of 2023.
• Multiple large investors have increased their stakes in Comcast, with notable transactions including Nuveen LLC investing around $940 million and Dodge & Cox raising its position by 19.1%.
• Comcast announced a quarterly dividend of $0.33 per share, representing a 3.9% yield, scheduled for payment on October 22nd.

WBI Investments LLC acquired a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 22,864 shares of the cable giant's stock, valued at approximately $844,000.

Several other large investors have also bought and sold shares of CMCSA. Nuveen LLC bought a new stake in Comcast during the 1st quarter valued at approximately $940,015,000. Dodge & Cox boosted its position in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. boosted its position in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after acquiring an additional 12,586,329 shares in 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Comcast by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock valued at $1,326,912,000 after purchasing an additional 4,991,891 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several recent research reports. Scotiabank lifted their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Citigroup reiterated a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Finally, Sanford C. Bernstein lowered their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus target price of $40.56.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $33.48 on Thursday. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm has a market cap of $123.62 billion, a P/E ratio of 5.53, a PEG ratio of 2.02 and a beta of 0.93. The company has a 50 day moving average of $33.90 and a 200 day moving average of $34.64. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping 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 company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast's payout ratio is currently 21.82%.

About Comcast

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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