Capital Research Global Investors Grows Position in Comcast Corporation $CMCSA

Capital Research Global Investors lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 46.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,706,330 shares of the cable giant’s stock after purchasing an additional 10,633,206 shares during the period. Capital Research Global Investors owned 0.93% of Comcast worth $1,059,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC raised its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the last quarter. Avalon Trust Co increased its stake in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Comcast in the second quarter worth $29,000. Newbridge Financial Services Group Inc. bought a new position in Comcast during the second quarter valued at approximately $31,000. Finally, Corsicana & Co. bought a new position in Comcast during the third quarter valued at $32,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA stock opened at $31.04 on Tuesday. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.97. The company has a market capitalization of $111.68 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The firm’s 50-day moving average is $30.08 and its two-hundred day moving average is $29.92. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders 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 dividend on an annualized basis and a yield of 4.3%. Comcast’s payout ratio is currently 24.58%.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent analyst reports. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 target price on the stock. in a research note on Tuesday, February 24th. Benchmark reduced their target price on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Morgan Stanley dropped their price objective on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Royal Bank Of Canada decreased their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Comcast currently has a consensus 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.