Comcast Corporation $CMCSA Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 21.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,199,489 shares of the cable giant’s stock after purchasing an additional 1,277,224 shares during the quarter. Bank of Montreal Can owned approximately 0.20% of Comcast worth $226,208,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC grew its stake in Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares in the last quarter. Avalon Trust Co raised its holdings in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in Comcast in the 2nd quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast during the 2nd quarter worth approximately $31,000. Finally, Total Investment Management Inc. acquired a new position in shares of Comcast during the 2nd quarter worth approximately $33,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

NASDAQ:CMCSA opened at $31.07 on Wednesday. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.72. The stock’s fifty day moving average is $30.10 and its two-hundred day moving average is $29.90. The company has a market capitalization of $111.79 billion, a P/E ratio of 5.79, a P/E/G ratio of 2.42 and a beta of 0.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on 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 owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Daiwa Securities Group dropped their target price on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Arete Research set a $23.00 target price on Comcast in a research note on Tuesday, January 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 price target on shares of Comcast in a report on Friday, January 30th. Finally, Zacks Research cut shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.87.

Comcast Company Profile

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.