OP Asset Management Ltd Invests $10.79 Million in Comcast Corporation $CMCSA

OP Asset Management Ltd bought a new stake in Comcast Corporation (NASDAQ:CMCSA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 375,863 shares of the cable giant’s stock, valued at approximately $10,791,000.

A number of other hedge funds have also bought and sold shares of the business. Lowe Brockenbrough & Co. Inc. grew its position in shares of Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after purchasing an additional 352 shares in the last quarter. Cora Capital Advisors LLC raised its position in shares of Comcast by 3.4% in the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after buying an additional 362 shares in the last quarter. FSA Advisors Inc. raised its position in shares of Comcast by 5.5% in the third quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock valued at $226,000 after buying an additional 376 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Comcast by 7.4% in the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after buying an additional 377 shares during the period. Finally, WPG Advisers LLC boosted its stake in shares of Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after buying an additional 384 shares during the period. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMCSA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Friday, April 24th. New Street Research reduced their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley raised their price target on Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Citigroup upped their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Nine analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.46.

Comcast Stock Performance

Shares of Comcast stock opened at $22.69 on Friday. The company’s 50 day moving average price is $25.39 and its two-hundred day moving average price is $28.07. The firm has a market capitalization of $81.05 billion, a P/E ratio of 4.47, a P/E/G ratio of 1.84 and a beta of 0.67. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

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. On average, equities analysts forecast that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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 given a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.8%. Comcast’s dividend payout ratio (DPR) is currently 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.