Capital Research Global Investors Acquires 21,958,603 Shares of Comcast Corporation $CMCSA

Capital Research Global Investors raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 65.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,664,933 shares of the cable giant’s stock after buying an additional 21,958,603 shares during the quarter. Capital Research Global Investors’ holdings in Comcast were worth $1,663,825,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Imprint Wealth LLC bought a new stake in shares of Comcast in the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the 3rd quarter worth approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the 4th quarter worth approximately $27,000. Olistico Wealth LLC bought a new stake in shares of Comcast in the 4th quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. grew its position in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research report on Friday, April 24th. Wall Street Zen upgraded Comcast to a “hold” rating in a research report on Saturday, March 14th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. Finally, Morgan Stanley lifted their price target on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.56.

Comcast Trading Up 2.1%

NASDAQ CMCSA opened at $23.82 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a twelve month low of $23.13 and a twelve month high of $36.66. The firm has a market capitalization of $85.09 billion, a PE ratio of 4.69, a P/E/G ratio of 1.94 and a beta of 0.67. The stock’s 50 day moving average is $26.77 and its 200 day moving average is $28.42.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s payout ratio is currently 25.98%.

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.