Comcast Corporation $CMCSA Stock Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 263,685 shares of the cable giant’s stock after buying an additional 24,868 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Comcast were worth $5,738,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Verus Capital Partners LLC acquired a new position in Comcast during the third quarter valued at approximately $208,000. Parallel Advisors LLC increased its position in shares of Comcast by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 40,361 shares of the cable giant’s stock worth $878,000 after purchasing an additional 6,765 shares during the last quarter. Abacus Wealth Partners LLC increased its position in shares of Comcast by 18.6% during the 3rd quarter. Abacus Wealth Partners LLC now owns 10,910 shares of the cable giant’s stock worth $237,000 after purchasing an additional 1,709 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Comcast by 86.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 61,314 shares of the cable giant’s stock worth $1,334,000 after purchasing an additional 28,422 shares during the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of Comcast during the 3rd quarter worth approximately $129,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

CMCSA opened at $24.39 on Monday. The stock’s fifty day simple moving average is $23.14 and its 200 day simple moving average is $25.99. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The stock has a market cap of $86.61 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, research analysts expect that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup cut their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a report on Thursday, September 24th. Raymond James Financial restated a “market perform” rating on shares of Comcast in a report on Friday, October 2nd. Freedom Broker lowered their target price on shares of Comcast from $29.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, October 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $23.00 price target on shares of Comcast in a research report on Thursday, October 22nd. Finally, KeyCorp cut shares of Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a research note on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.