Comcast Corporation $CMCSA Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,446,578 shares of the cable giant’s stock after purchasing an additional 1,609,451 shares during the period. Bank of New York Mellon Corp’s holdings in Comcast were worth $820,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cora Capital Advisors LLC lifted its stake in shares of Comcast by 3.4% in the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after purchasing an additional 362 shares during the period. FSA Advisors Inc. lifted its stake in shares of Comcast by 5.5% in the third quarter. FSA Advisors Inc. now owns 7,203 shares of the cable giant’s stock valued at $226,000 after purchasing an additional 376 shares during the period. Oakworth Capital Inc. lifted its stake in shares of Comcast by 7.4% in the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after purchasing an additional 377 shares during the period. WPG Advisers LLC lifted its stake in shares of Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after purchasing an additional 384 shares during the period. Finally, Addison Advisors LLC lifted its stake in shares of Comcast by 55.7% in the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Citigroup raised their price objective on shares of Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 price objective on shares of Comcast in a research note on Thursday, April 23rd. BNP Paribas Exane cut their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a research report on Wednesday, April 8th. Finally, Evercore lifted their target price on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $34.79.

Comcast Stock Down 5.4%

Shares of NASDAQ CMCSA opened at $23.52 on Thursday. Comcast Corporation has a 1 year low of $23.43 and a 1 year high of $36.66. The firm’s 50 day moving average price is $26.98 and its 200 day moving average price is $28.48. The firm has a market cap of $84.02 billion, a P/E ratio of 4.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

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

Comcast Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Comcast’s dividend payout ratio (DPR) is 25.98%.

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.