Korea Investment CORP Boosts Holdings in Comcast Corporation $CMCSA

Korea Investment CORP grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,055,574 shares of the cable giant’s stock after purchasing an additional 232,512 shares during the period. Korea Investment CORP owned approximately 0.06% of Comcast worth $64,586,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CMCSA. Norges Bank purchased a new stake in Comcast in the second quarter worth about $3,528,361,000. Dodge & Cox grew its holdings in shares of Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after acquiring an additional 17,054,579 shares during the period. First Trust Advisors LP grew its holdings in shares of Comcast by 133.1% during the 2nd quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after acquiring an additional 5,817,614 shares during the period. Worldquant Millennium Advisors LLC raised its position in shares of Comcast by 554.9% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock worth $178,634,000 after acquiring an additional 4,240,876 shares in the last quarter. Finally, State Street Corp raised its position in shares of Comcast by 2.5% in the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMCSA. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Morgan Stanley decreased their price objective on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Citigroup reissued a “buy” rating and set a $33.00 price objective (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Arete Research set a $23.00 target price on shares of Comcast in a report on Tuesday, January 6th. Finally, Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and increased their price target for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and an average target price of $34.87.

Comcast Price Performance

NASDAQ CMCSA opened at $31.91 on Monday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The stock has a 50-day moving average of $30.06 and a 200 day moving average of $29.94. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $114.81 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 2.49 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Comcast’s payout ratio is currently 24.58%.

About Comcast

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.