Comcast Corporation $CMCSA is Neo Ivy Capital Management’s 5th Largest Position

Neo Ivy Capital Management lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 93.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 145,868 shares of the cable giant’s stock after purchasing an additional 70,320 shares during the period. Comcast makes up approximately 1.1% of Neo Ivy Capital Management’s holdings, making the stock its 5th biggest holding. Neo Ivy Capital Management’s holdings in Comcast were worth $4,583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC grew its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the period. Avalon Trust Co raised its holdings in shares of Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Comcast in the 2nd quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast in the 2nd quarter valued at about $31,000. Finally, Corsicana & Co. purchased a new stake in shares of Comcast during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Comcast stock opened at $31.91 on Friday. The firm has a market capitalization of $114.81 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. The stock’s 50 day moving average price is $30.06 and its 200 day moving average price is $29.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

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

Comcast Dividend Announcement

The company 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Benchmark cut their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Citigroup reiterated a “buy” rating and set a $33.00 price objective (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. UBS Group dropped their price objective on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Morgan Stanley reduced their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and a consensus price target of $34.87.

Insider Transactions at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.32% of the stock is owned by company insiders.

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.