Senator Investment Group LP Makes New $34.97 Million Investment in Comcast Corporation $CMCSA

Senator Investment Group LP purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,170,000 shares of the cable giant’s stock, valued at approximately $34,971,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Imprint Wealth LLC purchased a new position in shares of Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Comcast in the fourth quarter worth $27,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the third quarter worth $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast in the fourth quarter worth $29,000. Finally, Richardson Financial Services Inc. increased its stake in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after acquiring an additional 691 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. Evercore increased their price objective on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Scotiabank increased their price objective on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 price objective on shares of Comcast in a research note on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $34.56.

Comcast Trading Down 2.2%

Shares of Comcast stock opened at $23.97 on Tuesday. The firm has a 50-day simple moving average of $26.24 and a two-hundred day simple moving average of $28.31. The company has a market cap of $85.63 billion, a P/E ratio of 4.72, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. Comcast Corporation has a fifty-two week low of $23.13 and a fifty-two week high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

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

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s dividend payout ratio is 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.