Empyrean Capital Partners LP Takes $25.97 Million Position in Comcast Corporation $CMCSA

Empyrean Capital Partners LP purchased a new stake in Comcast Corporation (NASDAQ:CMCSA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 868,700 shares of the cable giant’s stock, valued at approximately $25,965,000.

Several other large investors have also modified their holdings of the business. Cinctive Capital Management LP acquired a new position in shares of Comcast in the 4th quarter valued at $4,745,000. Clearline Capital LP acquired a new position in shares of Comcast in the 4th quarter valued at $8,601,000. Asset One Wealth Management LLC acquired a new position in shares of Comcast in the 4th quarter valued at $3,331,000. Armistice Capital LLC acquired a new position in shares of Comcast in the 4th quarter valued at $251,000. Finally, Align Financial LLC acquired a new position in shares of Comcast in the 4th quarter valued at $316,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA opened at $22.69 on Thursday. The stock’s 50-day moving average price is $26.05 and its 200 day moving average price is $28.26. Comcast Corporation has a 12-month low of $22.55 and a 12-month high of $36.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a market cap of $81.05 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 1.93 and a beta of 0.67.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.8%. Comcast’s dividend payout ratio is presently 25.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on CMCSA shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Comcast in a research note on Thursday, April 23rd. New Street Research decreased their price target on Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. BNP Paribas Exane decreased their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. Citigroup upped their price target on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Moffett Nathanson decreased their target price on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.52.

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.