2,034,630 Shares in Comcast Corporation $CMCSA Bought by Goldentree Asset Management LP

Goldentree Asset Management LP bought a new stake in Comcast Corporation (NASDAQ:CMCSA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,034,630 shares of the cable giant’s stock, valued at approximately $63,814,000. Comcast comprises about 5.3% of Goldentree Asset Management LP’s portfolio, making the stock its 7th biggest position.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Comcast in the 2nd quarter worth about $3,528,361,000. Dodge & Cox raised its holdings in shares of Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after buying an additional 17,054,579 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Comcast by 46.1% during the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after buying an additional 10,633,206 shares in the last quarter. State Street Corp boosted its stake in Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Comcast by 1,356.2% in the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after buying an additional 6,105,867 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CMCSA shares. BNP Paribas Exane downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research note on Tuesday, February 24th. Wall Street Zen raised shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Zacks Research cut shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Finally, Benchmark cut their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.87.

Comcast Stock Performance

NASDAQ:CMCSA opened at $28.57 on Thursday. The firm has a market cap of $102.79 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50 day moving average price of $30.24 and a 200-day moving average price of $29.77.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.6%. Comcast’s payout ratio is presently 24.58%.

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.