AIA Group Ltd Grows Holdings in Comcast Corporation $CMCSA

AIA Group Ltd boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 168.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 514,312 shares of the cable giant’s stock after purchasing an additional 323,010 shares during the period. AIA Group Ltd’s holdings in Comcast were worth $16,160,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC raised its holdings in shares of Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Imprint Wealth LLC purchased a new position in Comcast during the 3rd quarter valued at about $26,000. United Financial Planning Group LLC purchased a new position in Comcast during the 3rd quarter valued at about $28,000. Howard Hughes Medical Institute acquired a new position in Comcast in the 2nd quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Comcast in the 2nd quarter valued at about $31,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CMCSA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. BNP Paribas Exane cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a report on Tuesday, February 24th. Wall Street Zen raised shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. 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 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 investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $34.87.

Insider Activity

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 transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $28.57 on Thursday. The business has a 50-day simple moving average of $30.24 and a 200-day simple moving average of $29.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a one year low of $25.75 and a one year high of $37.72. The company has a market cap of $102.79 billion, a PE ratio of 5.32, a P/E/G ratio of 2.35 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

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.