Fifth Third Bancorp Grows Stock Holdings in Comcast Corporation $CMCSA

Fifth Third Bancorp raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 139.8% during the first quarter, HoldingsChannel reports. The fund owned 1,249,235 shares of the cable giant’s stock after purchasing an additional 728,198 shares during the quarter. Fifth Third Bancorp’s holdings in Comcast were worth $35,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CMCSA. Imprint Wealth LLC bought a new position in shares of Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast during the 4th quarter valued at $27,000. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares during the period. Olistico Wealth LLC purchased a new stake in Comcast during the 4th quarter worth about $29,000. Finally, Richardson Financial Services Inc. lifted its holdings in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMCSA. Citigroup cut their target price on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Morgan Stanley lowered their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and cut their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. Finally, Seaport Research Partners raised shares of 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, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Hold” and a consensus target price of $34.04.

Comcast Price Performance

CMCSA stock opened at $23.57 on Monday. The company’s 50 day moving average is $24.27 and its 200 day moving average is $27.69. The stock has a market cap of $84.20 billion, a price-to-earnings ratio of 4.64, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 1-year low of $22.13 and a 1-year high of $36.01.

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, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period in the previous year, the business posted $1.09 earnings per share. Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts predict that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders 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 annualized dividend and a dividend yield of 5.6%. Comcast’s dividend payout ratio (DPR) 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.