Cairn Investment Group Inc. Has $3.21 Million Stake in Comcast Corporation $CMCSA

Cairn Investment Group Inc. raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 867.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,975 shares of the cable giant’s stock after purchasing an additional 100,405 shares during the quarter. Comcast makes up 1.6% of Cairn Investment Group Inc.’s holdings, making the stock its 24th biggest position. Cairn Investment Group Inc.’s holdings in Comcast were worth $3,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. raised its stake in Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank boosted its holdings in Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares during the period. HUB Investment Partners LLC boosted its holdings in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after purchasing an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after purchasing an additional 15,865 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Key Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast’s Sky unit agreed to buy ITV’s media and entertainment business for about $2.1 billion, a deal that could strengthen Sky’s content portfolio and expand Comcast’s international media presence. Reuters article
• Positive Sentiment: Comcast announced that its Greater Phillipsburg network expansion is now more than halfway complete, extending high-speed internet and related services to more than 15,700 additional homes and businesses. That supports long-term broadband growth and could improve subscriber momentum. Yahoo Finance article
• Neutral Sentiment: Investors have been heavily searching Comcast, suggesting heightened attention as the stock trades near its 52-week low and well below its 50-day and 200-day moving averages. Yahoo Finance article
• Neutral Sentiment: Comcast was noted as “oversold vs. undervalued” in a retirement-investor screening article, which may reflect value interest but does not change fundamentals by itself. 247WallSt article
• Negative Sentiment: Wells Fargo cut its price target on Comcast to $28 from $29 and reiterated an underweight rating, signaling skepticism about near-term upside. Benzinga article
• Negative Sentiment: Morgan Stanley also lowered its price target to $30 from $33 and kept an equal-weight rating, adding to the cautious analyst tone around the stock. Benzinga article

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Rosenblatt Securities upgraded Comcast from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a research note on Tuesday, June 30th. Freedom Capital upgraded Comcast to a “hold” rating in a research report on Friday, June 12th. New Street Research decreased their price target on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Evercore boosted their price target on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $34.04.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $23.41 on Wednesday. Comcast Corporation has a one year low of $22.13 and a one year high of $36.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $83.63 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 1.92 and a beta of 0.67. The firm has a 50 day simple moving average of $24.50 and a 200 day simple moving average of $27.83.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts predict that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is presently 25.98%.

Comcast Company 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.