First Eagle Investment Management LLC Boosts Stock Position in Comcast Corporation $CMCSA

First Eagle Investment Management LLC raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 0.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,926,674 shares of the cable giant’s stock after purchasing an additional 21,438 shares during the quarter. Comcast accounts for approximately 2.1% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. First Eagle Investment Management LLC owned approximately 0.99% of Comcast worth $1,128,816,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in Comcast by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 7,834,053 shares of the cable giant’s stock worth $246,146,000 after acquiring an additional 693,156 shares in the last quarter. Manske Wealth Management increased its holdings in Comcast by 37.8% during the 3rd quarter. Manske Wealth Management now owns 35,450 shares of the cable giant’s stock worth $1,114,000 after purchasing an additional 9,717 shares during the period. CI Investments Inc. lifted its holdings in shares of Comcast by 11.2% in the 3rd quarter. CI Investments Inc. now owns 67,995 shares of the cable giant’s stock worth $2,136,000 after buying an additional 6,829 shares during the period. Strive Asset Management LLC purchased a new position in shares of Comcast during the third quarter valued at $2,042,000. Finally, Becker Capital Management Inc. raised its holdings in shares of Comcast by 7.2% in the third quarter. Becker Capital Management Inc. now owns 12,436 shares of the cable giant’s stock valued at $391,000 after acquiring an additional 832 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast 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 transaction, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade 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 can be accessed through this hyperlink. 1.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMCSA shares. Morgan Stanley lowered their price target on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. TD Cowen reduced their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada lowered their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.87.

Comcast Stock Performance

CMCSA opened at $30.82 on Tuesday. The firm has a 50 day moving average of $29.89 and a two-hundred day moving average of $29.99. The firm has a market capitalization of $110.89 billion, a PE ratio of 5.74, a P/E/G ratio of 2.41 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) 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 firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s dividend payout ratio is presently 24.58%.

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.