iA Global Asset Management Inc. Grows Position in Comcast Corporation $CMCSA

iA Global Asset Management Inc. grew its stake in Comcast Corporation (NASDAQ:CMCSA) by 28.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 710,922 shares of the cable giant’s stock after acquiring an additional 158,469 shares during the quarter. iA Global Asset Management Inc.’s holdings in Comcast were worth $22,337,000 at the end of the most recent quarter.

Other hedge funds and 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 2nd quarter valued at about $3,528,361,000. Dodge & Cox raised 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 valued at $3,971,309,000 after buying an additional 17,054,579 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Comcast by 133.1% during the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock valued at $363,580,000 after buying an additional 5,817,614 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Comcast by 554.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock valued at $178,634,000 after buying an additional 4,240,876 shares during the period. Finally, State Street Corp grew its stake in Comcast by 2.5% in the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $29.23 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $38.40. The firm has a market capitalization of $106.51 billion, a P/E ratio of 4.86, a P/E/G ratio of 2.06 and a beta of 0.81. The business’s 50-day simple moving average is $28.17 and its 200-day simple moving average is $30.62.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 30th. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $31.20 billion for the quarter, compared to analyst estimates of $30.74 billion. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CMCSA shares. Daiwa Capital Markets reduced their price target on Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Oppenheimer set a $38.00 target price on Comcast in a research report on Tuesday, November 4th. BNP Paribas Exane raised their price target on Comcast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Pivotal Research dropped their price objective on shares of Comcast from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Arete Research set a $23.00 target price on shares of Comcast in a research report on Tuesday, January 6th. Eleven analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Comcast has a consensus rating of “Hold” and an average target price of $35.53.

Comcast 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.