Golden State Equity Partners bought a new stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,063 shares of the cable giant’s stock, valued at approximately $1,822,000. Comcast accounts for 1.0% of Golden State Equity Partners’ holdings, making the stock its 28th biggest holding.
Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in Comcast by 5.1% during the 1st quarter. FMR LLC now owns 117,764,529 shares of the cable giant’s stock worth $4,464,453,000 after acquiring an additional 5,767,151 shares during the period. Morgan Stanley raised its position in shares of Comcast by 15.2% during the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock valued at $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Norges Bank purchased a new position in shares of Comcast during the 4th quarter valued at $1,798,173,000. Bank of New York Mellon Corp boosted its holdings in Comcast by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock worth $1,245,022,000 after buying an additional 189,845 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Comcast by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant’s stock worth $1,987,094,000 after buying an additional 473,150 shares in the last quarter. 82.85% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CMCSA shares. Citigroup increased their price objective on shares of Comcast from $47.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Wolfe Research upgraded shares of Comcast from an “underperform” rating to a “peer perform” rating in a report on Wednesday, August 2nd. Credit Suisse Group increased their price objective on shares of Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Loop Capital lifted their target price on Comcast from $50.00 to $53.00 in a report on Friday, July 28th. Finally, Macquarie upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $46.00 price target for the company in a report on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.88.
Comcast Stock Performance
Comcast stock traded down $0.06 during mid-day trading on Wednesday, hitting $45.13. The company had a trading volume of 7,694,505 shares, compared to its average volume of 18,636,738. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $186.17 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.24 and a beta of 0.99. The company’s fifty day moving average is $44.59 and its 200-day moving average is $40.88. Comcast Co. has a 12-month low of $28.39 and a 12-month high of $47.46.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.15. The business had revenue of $30.51 billion for the quarter, compared to analyst estimates of $30.11 billion. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. Equities research analysts predict that Comcast Co. will post 3.81 EPS for the current year.
Comcast Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a $0.29 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.16 annualized dividend and a dividend yield of 2.57%. Comcast’s dividend payout ratio (DPR) is 73.42%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, advertising sales, and Sky channels.
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