State Street Corp boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,805,081 shares of the cable giant’s stock after buying an additional 6,117,946 shares during the quarter. State Street Corp owned approximately 5.13% of Comcast worth $5,583,604,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Comcast in the 3rd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Comcast in the 4th quarter worth $27,000. United Financial Planning Group LLC bought a new position in Comcast in the 3rd quarter worth $28,000. Olistico Wealth LLC bought a new position in Comcast in the 4th quarter worth $29,000. Finally, Richardson Financial Services Inc. raised its holdings in 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 purchasing an additional 691 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the stock. BNP Paribas Exane decreased their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a report on Wednesday, April 8th. Morgan Stanley upped their price objective on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research report on Friday, April 24th. 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 research report on Friday, April 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $34.56.
Comcast Stock Up 2.2%
NASDAQ:CMCSA opened at $24.50 on Friday. The firm’s 50-day moving average price is $26.32 and its 200-day moving average price is $28.31. The company has a market capitalization of $87.52 billion, a PE ratio of 4.82, a P/E/G ratio of 1.95 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a 1-year low of $23.13 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities analysts predict that Comcast Corporation will post 3.53 EPS for the current fiscal year.
Comcast Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders 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 annualized dividend and a yield of 5.4%. Comcast’s payout ratio 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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