Comcast Corporation $CMCSA Stock Position Lifted by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 613,694 shares of the cable giant’s stock after purchasing an additional 49,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Comcast were worth $19,282,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CMCSA. Vanguard Group Inc. lifted its stake in shares of Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp raised its holdings in Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares in the last quarter. Dodge & Cox lifted its position in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares during the period. Norges Bank bought a new position in Comcast during the 2nd quarter valued at $3,528,361,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Comcast by 7.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after buying an additional 2,517,906 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $32.47 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $118.32 billion, a PE ratio of 6.05, a PEG ratio of 2.47 and a beta of 0.81. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97. The business has a 50-day simple moving average of $29.10 and a two-hundred day simple moving average of $30.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Comcast’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMCSA shares. UBS Group dropped their price target 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. Williams Trading set a $40.00 target price on shares of Comcast in a report on Friday, October 31st. Benchmark reduced their target price on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Sanford C. Bernstein decreased their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Ten investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $34.90.

About Comcast

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.