Comcast Corporation $CMCSA Shares Bought by Saudi Central Bank

Saudi Central Bank raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 87.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 251,190 shares of the cable giant’s stock after acquiring an additional 117,038 shares during the quarter. Saudi Central Bank’s holdings in Comcast were worth $6,167,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after acquiring an additional 6,117,946 shares in the last quarter. Capital World Investors grew its stake in Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Dodge & Cox increased its holdings in Comcast by 0.4% during the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after purchasing an additional 399,596 shares during the period. Geode Capital Management LLC raised its position in Comcast by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock valued at $2,680,747,000 after purchasing an additional 1,465,428 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Comcast in the 4th quarter valued at about $2,498,626,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $26.49 on Monday. The stock’s 50-day simple moving average is $24.86 and its 200-day simple moving average is $26.45. The firm has a market capitalization of $94.00 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast’s dividend payout ratio is presently 42.72%.

Analyst Ratings Changes

A number of brokerages have recently commented on CMCSA. Morgan Stanley set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the stock a “sector perform” rating in a research note on Friday, July 24th. New Street Research lowered 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. UBS Group reissued a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Finally, Weiss Ratings cut shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $32.96.

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.