CIBC Private Wealth Group LLC Has $14.04 Million Holdings in Comcast Corporation $CMCSA

CIBC Private Wealth Group LLC decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 73.7% during the third quarter, Holdings Channel.com reports. The firm owned 446,781 shares of the cable giant’s stock after selling 1,250,328 shares during the period. CIBC Private Wealth Group LLC’s holdings in Comcast were worth $14,038,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after purchasing an additional 7,917,335 shares in the last quarter. Dodge & Cox lifted its position in Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after buying an additional 1,295,598 shares in the last quarter. Norges Bank purchased a new stake in Comcast in the 2nd quarter worth approximately $3,528,361,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after buying an additional 2,517,906 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Comcast by 46.1% during the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after acquiring an additional 10,633,206 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 1.4%

Comcast stock opened at $28.98 on Friday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.72. The company’s fifty day moving average price is $30.26 and its two-hundred day moving average price is $29.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $104.27 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 2.23 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.6%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is 24.58%.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMCSA. Benchmark cut their price objective on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Citigroup restated a “buy” rating and issued a $33.00 target price (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Barclays set a $28.00 target price on Comcast and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Finally, TD Cowen reduced their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.87.

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.