CIBC Asset Management Inc Raises Stock Holdings in Comcast Corporation $CMCSA

CIBC Asset Management Inc increased its position in Comcast Corporation (NASDAQ:CMCSA) by 54.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,914,600 shares of the cable giant’s stock after purchasing an additional 675,546 shares during the period. CIBC Asset Management Inc owned 0.05% of Comcast worth $57,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marble Wealth LLC purchased a new stake in Comcast in the fourth quarter worth $467,000. Mccarter Private Wealth Services LLC grew its stake in Comcast by 39.7% in the fourth quarter. Mccarter Private Wealth Services LLC now owns 13,931 shares of the cable giant’s stock worth $416,000 after purchasing an additional 3,962 shares during the period. Bank of New York Mellon Corp grew its stake in Comcast by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 27,446,578 shares of the cable giant’s stock worth $820,378,000 after purchasing an additional 1,609,451 shares during the period. Westpac Banking Corp grew its stake in Comcast by 70.6% in the fourth quarter. Westpac Banking Corp now owns 32,589 shares of the cable giant’s stock worth $974,000 after purchasing an additional 13,486 shares during the period. Finally, Peak Retirement Planning Inc. grew its stake in Comcast by 35.6% in the fourth quarter. Peak Retirement Planning Inc. now owns 67,834 shares of the cable giant’s stock worth $2,028,000 after purchasing an additional 17,824 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. New Street Research reduced 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. Royal Bank Of Canada boosted their target price on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $29.00 target price on shares of Comcast in a report on Thursday, April 23rd. BNP Paribas Exane dropped their target price on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Finally, KeyCorp reissued a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.79.

Comcast Trading Down 5.4%

Comcast stock opened at $23.52 on Thursday. 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 business’s fifty day simple moving average is $26.98 and its two-hundred day simple moving average is $28.48. Comcast Corporation has a 12 month low of $23.43 and a 12 month high of $36.66. The company has a market capitalization of $84.02 billion, a price-to-earnings ratio of 4.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is presently 25.98%.

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.