Capital Research Global Investors Buys 21,958,603 Shares of Comcast Corporation $CMCSA

Capital Research Global Investors grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 65.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,664,933 shares of the cable giant’s stock after buying an additional 21,958,603 shares during the period. Capital Research Global Investors owned 1.53% of Comcast worth $1,663,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Norges Bank bought a new stake in shares of Comcast during the fourth quarter valued at about $2,498,626,000. State Street Corp increased its position in shares of 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 buying an additional 7,917,335 shares during the period. SG Americas Securities LLC increased its position in shares of Comcast by 2,970.5% during the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock valued at $221,028,000 after buying an additional 7,153,895 shares during the period. Two Sigma Investments LP increased its position in shares of Comcast by 1,356.2% during the third quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock valued at $205,993,000 after buying an additional 6,105,867 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Comcast by 554.9% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock valued at $178,634,000 after acquiring an additional 4,240,876 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

CMCSA opened at $23.82 on Friday. The stock’s 50 day simple moving average is $26.77 and its 200 day simple moving average is $28.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a 1 year low of $23.13 and a 1 year high of $36.66. The firm has a market cap of $85.09 billion, a price-to-earnings ratio of 4.69, a PEG ratio of 1.94 and a beta of 0.67.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Citigroup raised their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada raised their price objective on Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Evercore raised their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised Comcast to a “hold” rating in a report on Saturday, March 14th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $34.56.

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.