Resona Asset Management Co. Ltd. Raises Stake in Comcast Corporation $CMCSA

Resona Asset Management Co. Ltd. grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,330,406 shares of the cable giant’s stock after purchasing an additional 48,333 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Comcast were worth $47,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its holdings in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Comcast during the first quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its holdings in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after purchasing an additional 686 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in Comcast during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $27.94 on Thursday. The firm’s fifty day moving average price is $31.02 and its 200 day moving average price is $33.18. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $45.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $103.16 billion, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $30.34 billion for the quarter. On average, sell-side analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is 21.96%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Pivotal Research cut their price objective on shares of Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Arete lowered their target price on shares of Comcast from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 28th. JPMorgan Chase & Co. cut their target price on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 target price (down from $39.00) on shares of Comcast in a report on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.29.

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, sky-branded entertainment television networks, and advertising.