Step Capital Management Pte. Ltd. Buys 105,000 Shares of Comcast Corporation $CMCSA

Step Capital Management Pte. Ltd. increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 150.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the cable giant’s stock after purchasing an additional 105,000 shares during the period. Comcast makes up approximately 0.9% of Step Capital Management Pte. Ltd.’s investment portfolio, making the stock its 11th largest holding. Step Capital Management Pte. Ltd.’s holdings in Comcast were worth $4,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Raiffeisen Bank International AG increased its stake in shares of Comcast by 55.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 276,905 shares of the cable giant’s stock valued at $6,707,000 after acquiring an additional 99,038 shares during the last quarter. Tudor Financial Inc. boosted its stake in Comcast by 5,904.1% during the 2nd quarter. Tudor Financial Inc. now owns 58,600 shares of the cable giant’s stock worth $1,439,000 after acquiring an additional 57,624 shares during the last quarter. denkapparat Operations GmbH boosted its stake in Comcast by 19.3% during the 2nd quarter. denkapparat Operations GmbH now owns 85,844 shares of the cable giant’s stock worth $2,107,000 after acquiring an additional 13,872 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Comcast by 108.8% during the second quarter. Concurrent Investment Advisors LLC now owns 223,089 shares of the cable giant’s stock valued at $5,477,000 after purchasing an additional 116,224 shares during the period. Finally, NEOS Investment Management LLC grew its holdings in Comcast by 9.6% during the second quarter. NEOS Investment Management LLC now owns 2,740,535 shares of the cable giant’s stock valued at $66,376,000 after purchasing an additional 240,763 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMCSA shares. Barclays set a $26.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a report on Friday, July 24th. Scotiabank set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. Moffett Nathanson lowered their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Rosenblatt Securities reiterated a “buy” rating and set a $31.00 target price on shares of Comcast in a report on Friday, July 24th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.96.

Comcast Stock Performance

Shares of Comcast stock opened at $26.49 on Friday. The firm has a market cap of $94.00 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. The stock’s 50-day moving average is $24.86 and its 200-day moving average is $26.49. Comcast Corporation has a one year low of $21.28 and a one year high of $34.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. Equities analysts predict that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

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.