Cullen Investment Group LTD. Raises Stock Position in Comcast Corporation $CMCSA

Cullen Investment Group LTD. lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 31.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,554 shares of the cable giant’s stock after acquiring an additional 59,553 shares during the quarter. Comcast comprises approximately 0.9% of Cullen Investment Group LTD.’s holdings, making the stock its 29th biggest holding. Cullen Investment Group LTD.’s holdings in Comcast were worth $7,080,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Comcast in the second quarter valued at about $3,528,361,000. Dodge & Cox boosted its position in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after buying an additional 17,054,579 shares during the period. Capital Research Global Investors boosted its position in shares of Comcast by 46.1% in the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock worth $1,059,053,000 after buying an additional 10,633,206 shares during the period. State Street Corp grew its stake 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 buying an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock valued at $221,028,000 after buying an additional 7,153,895 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCSA has been the topic of several recent research reports. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research report on Tuesday, February 24th. Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.79.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.32% of the stock is owned by company insiders.

Comcast Price Performance

CMCSA stock opened at $28.73 on Thursday. The stock’s 50 day moving average is $30.29 and its two-hundred day moving average is $29.59. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72. The company has a market capitalization of $103.37 billion, a PE ratio of 5.35, a P/E/G ratio of 2.28 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 released its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. 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 dividend payout ratio is 24.58%.

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.