Munich Reinsurance Co Stock Corp in Munich Takes $5.41 Million Position in Comcast Corporation $CMCSA

Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the third quarter, HoldingsChannel reports. The firm purchased 172,045 shares of the cable giant’s stock, valued at approximately $5,406,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the period. Voya Financial Advisors Inc. raised its stake in shares of Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank lifted its holdings in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Comcast by 149.8% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 23,231 shares of the cable giant’s stock worth $829,000 after acquiring an additional 13,932 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Comcast by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 4,038 shares of the cable giant’s stock worth $144,000 after purchasing an additional 484 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.32% of the stock is owned by corporate insiders.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.91 on Friday. The firm has a 50 day moving average of $30.06 and a two-hundred day moving average of $29.96. The stock has a market capitalization of $114.81 billion, a PE ratio of 5.94, a P/E/G ratio of 2.49 and a beta of 0.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.97.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMCSA. Arete Research set a $23.00 target price on Comcast in a research report on Tuesday, January 6th. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a research report on Tuesday, February 24th. Zacks Research cut Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Sanford C. Bernstein cut their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Finally, Morgan Stanley lowered their target price on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus target price of $34.87.

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.