State Street Corp Purchases 6,117,946 Shares of Comcast Corporation $CMCSA

State Street Corp lifted its position in Comcast Corporation (NASDAQ:CMCSA) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 186,805,081 shares of the cable giant’s stock after buying an additional 6,117,946 shares during the period. State Street Corp owned about 0.05% of Comcast worth $5,583,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. boosted its holdings in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares during the last quarter. United Bank boosted its holdings in shares of Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares during the last quarter. HUB Investment Partners LLC boosted its holdings in shares of Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after acquiring an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price target on shares of Comcast in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and a consensus target price of $34.56.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $24.50 on Friday. The firm’s 50 day moving average price is $26.32 and its 200-day moving average price is $28.31. Comcast Corporation has a twelve month low of $23.13 and a twelve month high of $36.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $87.52 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

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.