Comcast Corporation $CMCSA Shares Acquired by Saudi Central Bank

Saudi Central Bank increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 87.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,190 shares of the cable giant’s stock after buying an additional 117,038 shares during the period. Saudi Central Bank’s holdings in Comcast were worth $6,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. North Dakota State Investment Board purchased a new position in Comcast in the 4th quarter valued at $3,754,000. Inceptionr LLC acquired a new stake in shares of Comcast in the first quarter valued at about $660,000. Bank of America Corp DE lifted its stake in shares of Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after buying an additional 3,783,234 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Comcast by 7.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock worth $21,487,000 after acquiring an additional 62,671 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Comcast by 53.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after acquiring an additional 72,129 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMCSA shares. Scotiabank set a $29.00 target price on shares of Comcast in a research note on Friday, July 24th. BNP Paribas Exane dropped their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Citigroup reduced their price objective on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Sanford C. Bernstein reissued a “market perform” rating and set a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus target price of $32.96.

Comcast Stock Performance

Comcast stock opened at $26.49 on Monday. The firm has a 50 day simple moving average of $24.86 and a 200-day simple moving average of $26.45. The stock has a market cap of $94.00 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. 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 Corporation has a 1-year low of $21.28 and a 1-year high of $34.38.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. 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.