Victory Capital Management Inc. Increases Stake in Comcast Corporation $CMCSA

Victory Capital Management Inc. increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,834,053 shares of the cable giant’s stock after purchasing an additional 693,156 shares during the period. Victory Capital Management Inc.’s holdings in Comcast were worth $246,146,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC lifted its stake in 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 raised its holdings in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares during the period. Howard Hughes Medical Institute bought a new stake in shares of Comcast during the 2nd quarter worth approximately $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Comcast during the 2nd quarter worth approximately $31,000. Finally, Corsicana & Co. purchased a new position in Comcast during the 3rd quarter valued at $32,000. 84.32% of the stock is currently owned by institutional investors.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

Comcast Stock Up 0.6%

NASDAQ:CMCSA opened at $31.01 on Wednesday. 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 Corporation has a 1-year low of $25.75 and a 1-year high of $37.97. The company has a 50-day moving average of $29.93 and a 200 day moving average of $29.97. The firm has a market cap of $111.57 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating 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 business had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. 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 dividend payout ratio is currently 24.58%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Oppenheimer set a $38.00 price target on shares of Comcast in a report on Tuesday, November 4th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Moffett Nathanson lowered their price objective on shares of Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.87.

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.