Letko Brosseau & Associates Inc. Raises Stock Position in Comcast Corporation $CMCSA

Letko Brosseau & Associates Inc. increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,265,221 shares of the cable giant’s stock after acquiring an additional 101,975 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.06% of Comcast worth $67,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC grew its holdings in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares in the last quarter. United Bank grew its holdings in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC grew its holdings in shares of Comcast by 119.4% during the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after buying an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in shares of Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after buying an additional 15,865 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 0.4%

Shares of CMCSA opened at $23.85 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12-month low of $23.13 and a 12-month high of $36.66. The firm has a 50-day moving average price of $26.58 and a 200 day moving average price of $28.38. The firm has a market capitalization of $85.20 billion, a P/E ratio of 4.69, a P/E/G ratio of 1.93 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Comcast’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors 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 5.5%. Comcast’s dividend payout ratio is currently 25.98%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CMCSA. Scotiabank upped their target price on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Rosenblatt Securities dropped their target price on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, Wall Street Zen raised shares of Comcast to a “hold” rating in a report on Saturday, March 14th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.56.

About Comcast

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.