Cidel Asset Management Inc. Increases Stock Holdings in Comcast Corporation $CMCSA

Cidel Asset Management Inc. grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 52.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,116 shares of the cable giant’s stock after purchasing an additional 33,545 shares during the quarter. Cidel Asset Management Inc.’s holdings in Comcast were worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CMCSA. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Comcast in the 4th quarter valued at about $27,000. United Financial Planning Group LLC purchased a new position in shares of Comcast during the third quarter worth approximately $28,000. Olistico Wealth LLC acquired a new stake in Comcast during the 4th quarter worth $29,000. Finally, Richardson Financial Services Inc. grew its position in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 2.2%

CMCSA opened at $22.80 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $25.61 and a 200-day simple moving average of $28.13. The stock has a market capitalization of $81.45 billion, a P/E ratio of 4.49, a P/E/G ratio of 1.82 and a beta of 0.67. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.66.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.8%. Comcast’s dividend payout ratio is 25.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their target price on shares of Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft downgraded Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research note on Friday, April 24th. Royal Bank Of Canada lifted their target price on Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Finally, KeyCorp restated a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $34.50.

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.