Caprock Group LLC Invests $3.37 Million in Comcast Corporation $CMCSA

Caprock Group LLC acquired a new position in Comcast Corporation (NASDAQ:CMCSA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 99,199 shares of the cable giant’s stock, valued at approximately $3,370,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after purchasing an additional 1,257,196 shares during the period. State Street Corp lifted its position in shares of Comcast by 2.5% during the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after acquiring an additional 4,231,140 shares during the last quarter. Dodge & Cox increased its stake in Comcast by 18.1% in the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new stake in shares of Comcast during the second quarter valued at approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Comcast by 7.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after acquiring an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CMCSA. Moffett Nathanson dropped their target price on Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Oppenheimer set a $38.00 price target on Comcast in a research note on Tuesday, November 4th. Scotiabank cut their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research note on Friday, January 30th. Finally, Sanford C. Bernstein reduced their target price on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.90.

Comcast Price Performance

Comcast stock opened at $32.47 on Thursday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97. The business’s 50-day simple moving average is $29.10 and its 200 day simple moving average is $30.11. 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 stock has a market cap of $118.32 billion, a price-to-earnings ratio of 6.05, a P/E/G ratio of 2.47 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. As a group, research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

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.