Avanza Fonder AB Has $8.75 Million Stake in Comcast Corporation $CMCSA

Avanza Fonder AB increased its position in Comcast Corporation (NASDAQ:CMCSA) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,722 shares of the cable giant’s stock after purchasing an additional 24,837 shares during the period. Avanza Fonder AB’s holdings in Comcast were worth $8,749,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC raised its holdings in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after buying an additional 436 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of Comcast during the third quarter valued at about $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast during the third quarter valued at about $28,000. Howard Hughes Medical Institute bought a new stake in shares of Comcast during the second quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Comcast during the second quarter worth about $31,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Benchmark dropped their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Morgan Stanley decreased their price objective on Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a research note on Friday, January 30th. Zacks Research lowered Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Finally, Citigroup reaffirmed a “buy” rating and set a $33.00 target price (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Comcast has an average rating of “Hold” and a consensus price target of $34.87.

Comcast Price Performance

NASDAQ CMCSA opened at $29.01 on Tuesday. The company has a market cap of $104.37 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $30.27 and its two-hundred day simple moving average is $29.63.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share 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 firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter last year, the company earned $0.96 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

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

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value 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 $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by insiders.

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.