Comcast Corporation $CMCSA Stock Acquired by Private Management Group Inc.

Private Management Group Inc. raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,808,465 shares of the cable giant’s stock after acquiring an additional 45,016 shares during the quarter. Comcast makes up about 1.0% of Private Management Group Inc.’s portfolio, making the stock its 25th biggest position. Private Management Group Inc. owned approximately 0.05% of Comcast worth $39,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE boosted its position in Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock worth $845,919,000 after purchasing an additional 507,097 shares in the last quarter. First Trust Advisors LP raised its holdings in Comcast by 4.9% in the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock worth $390,231,000 after purchasing an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after buying an additional 10,359,800 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Comcast by 5.7% during the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock valued at $306,227,000 after buying an additional 574,300 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 0.5%

CMCSA stock opened at $24.51 on Tuesday. The firm has a 50 day moving average of $23.09 and a 200 day moving average of $25.97. The stock has a market capitalization of $87.04 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. Comcast’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Wednesday, January 6th. Comcast’s payout ratio is presently 41.77%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. UBS Group reiterated a “neutral” rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Freedom Broker decreased their target price on shares of Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Scotiabank decreased their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research report on Friday, October 2nd. Finally, Bank of America restated a “buy” rating and issued a $35.00 target price (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.77.

About Comcast

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.