Korea Investment CORP Buys 232,512 Shares of Comcast Corporation $CMCSA

Korea Investment CORP increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,055,574 shares of the cable giant’s stock after buying an additional 232,512 shares during the quarter. Korea Investment CORP’s holdings in Comcast were worth $64,586,000 as of its most recent SEC filing.

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

Comcast Stock Up 1.0%

Comcast stock opened at $31.91 on Monday. The business’s 50-day simple moving average is $30.06 and its two-hundred day simple moving average is $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 cap of $114.81 billion, a PE ratio of 5.94, a PEG ratio of 2.49 and a beta of 0.79. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data 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 analysts’ expectations of $32.35 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given 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 dividend yield of 4.1%. Comcast’s dividend payout ratio (DPR) is 24.58%.

Analysts Set New Price Targets

Several equities analysts have commented on CMCSA shares. UBS Group cut their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Barclays set a $28.00 target price on shares of Comcast and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Daiwa Securities Group cut their price target on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Sanford C. Bernstein reduced their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Finally, BNP Paribas Exane lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a report on Tuesday, February 24th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.87.

Insider Activity at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the 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 transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is owned by company insiders.

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.