83,925 Comcast Corporation $CMCSA Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 943,795 shares of the cable giant’s stock after acquiring an additional 83,925 shares during the period. Rakuten Investment Management Inc.’s holdings in Comcast were worth $20,386,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Whipplewood Advisors LLC raised its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD acquired a new stake in shares of Comcast during the 1st quarter valued at approximately $27,000. GKV Capital Management Co. Inc. purchased a new position in shares of Comcast during the 1st quarter worth approximately $32,000. Financial Freedom LLC raised its position in shares of Comcast by 72.8% in the first quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant’s stock valued at $32,000 after buying an additional 465 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new position in Comcast during the second quarter worth approximately $26,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 5.0%

NASDAQ CMCSA opened at $24.85 on Thursday. The firm has a 50-day simple moving average of $23.23 and a 200 day simple moving average of $26.03. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85. The stock has a market cap of $88.24 billion, a PE ratio of 7.86, a PEG ratio of 1.67 and a beta of 0.72.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $29.30 billion during the quarter, compared to analysts’ expectations of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. Comcast’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. On average, research analysts forecast that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.3%. Comcast’s dividend payout ratio (DPR) is 41.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CMCSA shares. TD Cowen dropped their target price on Comcast from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Moffett Nathanson dropped their target price on shares of Comcast from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Citigroup dropped their target price on Comcast from $30.00 to $27.50 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Weiss Ratings downgraded Comcast from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Finally, Freedom Broker reduced their price target on shares of Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, October 26th. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and a consensus target price of $28.77.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.