Legal & General Group Plc Has $757.37 Million Stake in Comcast Corporation $CMCSA

Legal & General Group Plc lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,104,774 shares of the cable giant’s stock after purchasing an additional 686,520 shares during the period. Legal & General Group Plc’s holdings in Comcast were worth $757,372,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CMCSA. Cape Investment Advisory Inc. raised its position in shares of Comcast by 2.6% during the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after acquiring an additional 307 shares during the last quarter. Titleist Asset Management LLC lifted its position in Comcast by 4.7% during the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock valued at $272,000 after purchasing an additional 342 shares during the period. Lakeshore Capital Group Inc. boosted its stake in shares of Comcast by 2.6% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock valued at $428,000 after purchasing an additional 343 shares during the last quarter. Hengehold Capital Management LLC grew its position in shares of Comcast by 0.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant’s stock worth $2,601,000 after buying an additional 372 shares during the period. Finally, Commonwealth Financial Services LLC raised its stake in shares of Comcast by 4.6% during the third quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant’s stock worth $265,000 after buying an additional 372 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $37.00 in a research note on Monday, January 12th. TD Cowen decreased their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays set a $28.00 target price on Comcast and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Sanford C. Bernstein decreased their target price 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 research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $34.87.

Comcast Trading Down 2.7%

NASDAQ CMCSA opened at $31.04 on Tuesday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $111.68 billion, a P/E ratio of 5.78, a P/E/G ratio of 2.49 and a beta of 0.79. The stock’s 50-day moving average is $30.08 and its 200-day moving average is $29.92.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

Comcast 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.