Fifth Third Bancorp Has $35.87 Million Stake in Comcast Corporation $CMCSA

Fifth Third Bancorp increased its position in Comcast Corporation (NASDAQ:CMCSA) by 139.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,249,235 shares of the cable giant’s stock after purchasing an additional 728,198 shares during the period. Fifth Third Bancorp’s holdings in Comcast were worth $35,866,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after buying an additional 2,593 shares during the last quarter. United Bank increased its position in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC lifted its position in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CMCSA shares. Rosenblatt Securities raised Comcast from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $31.00 in a report on Tuesday, June 30th. Evercore raised their target price on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Morgan Stanley cut their target price on Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Scotiabank upped their price target on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Freedom Capital upgraded Comcast to a “hold” rating in a report on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.04.

Comcast Stock Performance

Shares of CMCSA opened at $23.57 on Monday. Comcast Corporation has a 1 year low of $22.13 and a 1 year high of $36.01. 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 stock’s fifty day moving average price is $24.27 and its two-hundred day moving average price is $27.69. The firm has a market cap of $84.20 billion, a PE ratio of 4.64, 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 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 company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Dividend Announcement

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

Comcast 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.