Capital World Investors Raises Stake in Comcast Corporation $CMCSA

Capital World Investors lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,343,399 shares of the cable giant’s stock after buying an additional 24,166,881 shares during the quarter. Capital World Investors owned approximately 3.85% of Comcast worth $4,194,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors grew its holdings in shares of Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after buying an additional 21,958,603 shares in the last quarter. Capital International Sarl grew its holdings in shares of Comcast by 36.4% during the fourth quarter. Capital International Sarl now owns 179,668 shares of the cable giant’s stock worth $5,370,000 after buying an additional 47,927 shares in the last quarter. Capital International Inc. CA grew its holdings in Comcast by 13.6% in the fourth quarter. Capital International Inc. CA now owns 1,690,598 shares of the cable giant’s stock valued at $50,532,000 after purchasing an additional 202,264 shares during the period. Capital International Investors grew its holdings in Comcast by 0.8% in the fourth quarter. Capital International Investors now owns 15,284,483 shares of the cable giant’s stock valued at $456,872,000 after purchasing an additional 114,494 shares during the period. Finally, Longfellow Investment Management Co. LLC grew its holdings in Comcast by 669.7% in the fourth quarter. Longfellow Investment Management Co. LLC now owns 272,560 shares of the cable giant’s stock valued at $8,147,000 after purchasing an additional 237,149 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CMCSA. KeyCorp restated a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Rosenblatt Securities lowered their target price on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Friday. Evercore boosted their target price on shares of Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. New Street Research lowered their target price on shares of Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Comcast to a “hold” rating in a report on Saturday, March 14th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus price target of $34.56.

Comcast Trading Up 2.1%

Shares of CMCSA stock opened at $23.82 on Friday. The stock has a market cap of $85.09 billion, a price-to-earnings ratio of 4.69, a price-to-earnings-growth ratio of 1.94 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 Corporation has a fifty-two week low of $23.13 and a fifty-two week high of $36.66. The firm’s 50 day moving average price is $26.77 and its two-hundred day moving average price is $28.42.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. On average, analysts anticipate that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is 25.98%.

Comcast 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.