Marks Group Wealth Management Inc raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 131.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,462 shares of the cable giant’s stock after buying an additional 38,359 shares during the period. Marks Group Wealth Management Inc’s holdings in Comcast were worth $2,016,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CMCSA. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at about $2,498,626,000. Capital World Investors lifted its position in shares of Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Comcast by 65.1% in the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. State Street Corp lifted its position in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Comcast by 2,970.5% during the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after acquiring an additional 7,153,895 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CMCSA. 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 research report on Friday, June 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. New Street Research dropped their target price on shares of Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Finally, Evercore upped their target price on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.56.
Comcast Price Performance
Comcast stock opened at $23.85 on Wednesday. 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 PE ratio of 4.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. 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.
Comcast (NASDAQ:CMCSA – Get Free Report) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. As a group, equities research analysts forecast that Comcast Corporation will post 3.53 EPS for the current year.
Comcast Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 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.
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