Rakuten Investment Management Inc. Purchases 596,553 Shares of Comcast Corporation $CMCSA

Rakuten Investment Management Inc. grew its stake in Comcast Corporation (NASDAQ:CMCSA) by 747.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 676,332 shares of the cable giant’s stock after acquiring an additional 596,553 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Comcast were worth $20,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lowe Brockenbrough & Co. Inc. increased its stake in shares of Comcast by 4.9% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after acquiring an additional 352 shares during the last quarter. Cora Capital Advisors LLC increased its stake in shares of Comcast by 3.4% in the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after acquiring an additional 362 shares during the last quarter. FSA Advisors Inc. increased its stake in shares of Comcast by 5.5% in the 3rd quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock valued at $226,000 after acquiring an additional 376 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Comcast by 7.4% in the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after acquiring an additional 377 shares during the last quarter. Finally, WPG Advisers LLC increased its stake in shares of Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after acquiring an additional 384 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research reports. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their target price on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday. Morgan Stanley increased their target price on Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $34.56.

Comcast Price Performance

Shares of CMCSA opened at $23.97 on Tuesday. The stock has a market capitalization of $85.63 billion, a P/E ratio of 4.72, a P/E/G ratio of 1.99 and a beta of 0.68. Comcast Corporation has a twelve month low of $23.13 and a twelve month high of $36.66. The company has a 50 day moving average of $26.24 and a 200-day moving average of $28.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts forecast that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

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.