Comcast Corporation $CMCSA Shares Bought by DNB Asset Management AS

DNB Asset Management AS raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,048,228 shares of the cable giant’s stock after acquiring an additional 93,410 shares during the period. DNB Asset Management AS’s holdings in Comcast were worth $32,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 valued at $13,185,275,000 after purchasing an additional 1,257,196 shares during the last quarter. State Street Corp lifted its holdings in shares of Comcast by 2.5% in 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 buying an additional 4,231,140 shares during the period. Dodge & Cox boosted its stake 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 last quarter. Norges Bank purchased a new stake in shares of Comcast in the second quarter worth about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Comcast by 7.5% during the second 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 during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. Williams Trading set a $40.00 target price on shares of Comcast in a research note on Friday, October 31st. TD Cowen dropped their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. Finally, Royal Bank Of Canada lowered their target price on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $34.87.

Comcast Stock Performance

CMCSA opened at $30.96 on Friday. The firm’s fifty day simple moving average is $29.86 and its two-hundred day simple moving average is $30.04. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a market cap of $111.39 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.41 and a beta of 0.81. 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 quarterly 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 in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the 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 approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.32% of the company’s stock.

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.