Norges Bank Takes $2.50 Billion Position in Comcast Corporation $CMCSA

Norges Bank bought a new stake in Comcast Corporation (NASDAQ:CMCSA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 83,594,032 shares of the cable giant’s stock, valued at approximately $2,498,626,000. Norges Bank owned 2.29% of Comcast as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of CMCSA. 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. bought a new stake in shares of Comcast in the fourth quarter valued at about $27,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the third quarter valued at about $28,000. Olistico Wealth LLC bought a new stake in shares of Comcast in the fourth quarter valued at about $29,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 691 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent research reports. New Street Research reduced their target price on shares of Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. Royal Bank Of Canada upped their price objective on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Friday, April 24th. Nine 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, the company has a consensus rating of “Hold” and an average target price of $34.79.

Comcast Trading Down 1.2%

CMCSA opened at $24.87 on Friday. The stock has a market capitalization of $88.84 billion, a price-to-earnings ratio of 4.90, a P/E/G ratio of 2.02 and a beta of 0.71. 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 twelve month low of $24.53 and a twelve month high of $36.66. The company has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $28.54.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during 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%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Analysts predict that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. Comcast’s dividend payout ratio is 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.