Swedbank AB Has $74.41 Million Stock Position in Comcast Corporation $CMCSA

Swedbank AB increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.1% during the first quarter, HoldingsChannel reports. The fund owned 2,591,710 shares of the cable giant’s stock after acquiring an additional 101,105 shares during the quarter. Swedbank AB’s holdings in Comcast were worth $74,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Imprint Wealth LLC bought a new stake in shares of Comcast in the third quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast in the 4th quarter valued at approximately $27,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the 3rd quarter worth approximately $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast during the 4th quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. increased its position in shares of Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast News Roundup

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast’s Sky unit agreed to buy ITV’s media and entertainment business for about $2.1 billion, a deal that could strengthen Sky’s content portfolio and expand Comcast’s international media presence. Reuters article
• Positive Sentiment: Comcast announced that its Greater Phillipsburg network expansion is now more than halfway complete, extending high-speed internet and related services to more than 15,700 additional homes and businesses. That supports long-term broadband growth and could improve subscriber momentum. Yahoo Finance article
• Neutral Sentiment: Investors have been heavily searching Comcast, suggesting heightened attention as the stock trades near its 52-week low and well below its 50-day and 200-day moving averages. Yahoo Finance article
• Neutral Sentiment: Comcast was noted as “oversold vs. undervalued” in a retirement-investor screening article, which may reflect value interest but does not change fundamentals by itself. 247WallSt article
• Negative Sentiment: Wells Fargo cut its price target on Comcast to $28 from $29 and reiterated an underweight rating, signaling skepticism about near-term upside. Benzinga article
• Negative Sentiment: Morgan Stanley also lowered its price target to $30 from $33 and kept an equal-weight rating, adding to the cautious analyst tone around the stock. Benzinga article

Comcast Trading Up 0.1%

Shares of CMCSA stock opened at $23.41 on Wednesday. Comcast Corporation has a 12-month low of $22.13 and a 12-month high of $36.06. The company has a market capitalization of $83.63 billion, a P/E ratio of 4.61, a P/E/G ratio of 1.92 and a beta of 0.67. The firm has a 50-day moving average price of $24.50 and a 200 day moving average price of $27.83. 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 results on Thursday, April 23rd. The cable giant reported $0.79 EPS 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 analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Research analysts forecast that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is presently 25.98%.

Analysts Set New Price Targets

Several brokerages recently commented on CMCSA. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and reduced their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. UBS Group reiterated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. BNP Paribas Exane lowered their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley dropped their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.04.

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.