Resona Asset Management Co. Ltd. Acquires 45,373 Shares of Comcast Corporation $CMCSA

Resona Asset Management Co. Ltd. raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,254,593 shares of the cable giant’s stock after acquiring an additional 45,373 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Comcast were worth $36,061,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after buying an additional 2,160,829 shares in the last quarter. State Street Corp grew its position in Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares in the last quarter. Capital World Investors grew its position in Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Dodge & Cox increased its stake in Comcast by 0.4% in the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after acquiring an additional 399,596 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Comcast by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock valued at $2,680,747,000 after acquiring an additional 1,465,428 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CMCSA shares. Evercore lifted their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Monday. Morgan Stanley dropped their target price on Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Citigroup cut their target price on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Comcast presently has an average rating of “Hold” and an average price target of $34.04.

Comcast Stock Performance

NASDAQ CMCSA opened at $23.19 on Thursday. The company has a 50-day simple moving average of $24.41 and a two-hundred day simple moving average of $27.78. Comcast Corporation has a 12-month low of $22.13 and a 12-month high of $36.03. The firm has a market cap of $82.84 billion, a price-to-earnings ratio of 4.56, a PEG ratio of 1.93 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is 25.98%.

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.