NEOS Investment Management LLC Raises Holdings in Comcast Corporation $CMCSA

NEOS Investment Management LLC lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 69.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,634,049 shares of the cable giant’s stock after buying an additional 670,509 shares during the quarter. NEOS Investment Management LLC’s holdings in Comcast were worth $50,803,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CMCSA. Norges Bank purchased a new stake in shares of Comcast in the 2nd quarter valued at approximately $3,528,361,000. Dodge & Cox lifted its position in shares of Comcast by 18.1% during 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 during the last quarter. First Trust Advisors LP grew 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 worth $363,580,000 after purchasing an additional 5,817,614 shares in the last quarter. Worldquant Millennium Advisors LLC increased its holdings in Comcast by 554.9% in 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 last quarter. Finally, State Street Corp raised its stake in Comcast by 2.5% in the second 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 in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Down 0.8%

Shares of CMCSA stock opened at $31.57 on Tuesday. The business’s fifty day moving average price is $29.37 and its 200 day moving average price is $30.06. The firm has a market capitalization of $113.58 billion, a PE ratio of 5.88, a P/E/G ratio of 2.41 and a beta of 0.81. 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 $37.97.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter last year, the firm posted $0.96 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Barclays set a $28.00 target price on Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Williams Trading set a $40.00 price target on Comcast in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $30.00 target price (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $34.90.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction that occurred 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 $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

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.