Whittier Trust Co. Increases Position in Comcast Corporation $CMCSA

Whittier Trust Co. lifted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 5.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 437,262 shares of the cable giant’s stock after purchasing an additional 21,075 shares during the period. Whittier Trust Co.’s holdings in Comcast were worth $12,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Vanguard Group Inc. raised its stake in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. North Dakota State Investment Board bought a new position in Comcast in the fourth quarter worth approximately $3,754,000. Vest Financial LLC raised its position in Comcast by 72.1% during the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock valued at $6,961,000 after purchasing an additional 97,601 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Comcast by 53.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock worth $6,161,000 after buying an additional 72,129 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Comcast by 10.0% in the 4th quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant’s stock worth $1,295,200,000 after buying an additional 3,952,642 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 2.5%

NASDAQ:CMCSA traded up $0.58 during midday trading on Tuesday, reaching $23.96. 7,106,788 shares of the stock traded hands, compared to its average volume of 34,614,328. The stock has a market capitalization of $85.61 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. Comcast Corporation has a 12-month low of $22.13 and a 12-month high of $36.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50-day moving average of $24.75 and a two-hundred day moving average of $27.92.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Comcast Corporation will post 3.5 earnings per share for the current fiscal 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 paid a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Morgan Stanley dropped their target price on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday. New Street Research reduced their price target on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Finally, Freedom Capital raised shares of Comcast to a “hold” rating in a research note on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.04.

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.