Davis Capital Management Invests $1.35 Million in Comcast Corporation $CMCSA

Davis Capital Management acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the third quarter, HoldingsChannel reports. The firm acquired 43,028 shares of the cable giant’s stock, valued at approximately $1,352,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rexford Capital Inc. raised its stake in shares of Comcast by 8.9% in the 3rd quarter. Rexford Capital Inc. now owns 8,955 shares of the cable giant’s stock valued at $281,000 after purchasing an additional 730 shares during the period. Verity & Verity LLC raised its position in Comcast by 3.8% in the 3rd quarter. Verity & Verity LLC now owns 447,833 shares of the cable giant’s stock valued at $14,071,000 after buying an additional 16,295 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. boosted its position in Comcast by 0.5% during the 3rd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 608,404 shares of the cable giant’s stock worth $19,116,000 after acquiring an additional 3,322 shares during the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Comcast by 4.6% during the 3rd quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant’s stock worth $265,000 after acquiring an additional 372 shares in the last quarter. Finally, apricus wealth LLC raised its holdings in shares of Comcast by 29.9% in the third quarter. apricus wealth LLC now owns 77,930 shares of the cable giant’s stock valued at $2,449,000 after purchasing an additional 17,915 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent research reports. Loop Capital reduced their target price on shares of Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 31st. Moffett Nathanson reduced their price objective on shares of Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Morgan Stanley lowered their target price on Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 10th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $30.00 price target (down from $39.00) on shares of Comcast in a research note on Friday, October 31st. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and an average target price of $35.92.

Comcast Stock Down 1.2%

Shares of CMCSA stock opened at $29.54 on Friday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $38.40. The stock has a market cap of $107.64 billion, a price-to-earnings ratio of 4.92, a PEG ratio of 2.07 and a beta of 0.81. The firm’s 50-day moving average is $28.04 and its 200-day moving average is $31.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The firm had revenue of $30.34 billion for the quarter. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is 21.96%.

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.