ARGA Investment Management LP Has $38.96 Million Stock Holdings in Comcast Corporation $CMCSA

ARGA Investment Management LP lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 19,080.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,356,984 shares of the cable giant’s stock after acquiring an additional 1,349,909 shares during the period. Comcast makes up about 1.3% of ARGA Investment Management LP’s investment portfolio, making the stock its 19th biggest position. ARGA Investment Management LP’s holdings in Comcast were worth $38,959,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CMCSA. Vanguard Group Inc. lifted its stake in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. State Street Corp grew its stake in shares of Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors grew its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Dodge & Cox grew its stake in shares of Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after purchasing an additional 399,596 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Comcast by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Monday. Royal Bank Of Canada increased their price objective on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. The Goldman Sachs Group cut their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Rosenblatt Securities upgraded shares of Comcast from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a research note on Tuesday, June 30th. Finally, Morgan Stanley lowered their target price on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.04.

Comcast Trading Up 1.0%

Shares of CMCSA opened at $23.57 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $84.20 billion, a price-to-earnings ratio of 4.64, a PEG ratio of 1.92 and a beta of 0.67. The stock has a fifty day moving average price of $24.27 and a two-hundred day moving average price of $27.70. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 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 company had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Announces Dividend

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 issued a $0.33 dividend. 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 5.6%. Comcast’s dividend payout ratio (DPR) is currently 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.