Comcast Corporation $CMCSA Shares Bought by Capital Research Global Investors

Capital Research Global Investors raised its stake in Comcast Corporation (NASDAQ:CMCSA) by 46.1% during the third quarter, Holdings Channel reports. The firm owned 33,706,330 shares of the cable giant’s stock after purchasing an additional 10,633,206 shares during the period. Capital Research Global Investors’ holdings in Comcast were worth $1,059,053,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CMCSA. Vanguard Group Inc. boosted its position in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after buying an additional 1,257,196 shares during the last quarter. State Street Corp boosted its holdings 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 valued at $6,166,154,000 after buying an additional 4,231,140 shares during the period. Dodge & Cox boosted its stake in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares during the period. Norges Bank bought a new position in Comcast during the 2nd quarter worth $3,528,361,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Comcast by 7.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after acquiring an additional 2,517,906 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by company insiders.

Comcast Price Performance

Comcast stock opened at $31.04 on Tuesday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $30.08 and a 200 day simple moving average of $29.92. The company has a market capitalization of $111.68 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders 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 annualized dividend and a dividend yield of 4.3%. Comcast’s payout ratio is 24.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $37.00 in a report on Monday, January 12th. Benchmark reduced their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. BNP Paribas Exane downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 target price on the stock. in a research note on Tuesday, February 24th. Daiwa Securities Group dropped their target price on Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Finally, Scotiabank reduced their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $34.87.

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.