Goldentree Asset Management LP Acquires Shares of 2,034,630 Comcast Corporation $CMCSA

Goldentree Asset Management LP bought a new position in Comcast Corporation (NASDAQ:CMCSA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,034,630 shares of the cable giant’s stock, valued at approximately $63,814,000. Comcast comprises 5.3% of Goldentree Asset Management LP’s holdings, making the stock its 7th biggest position. Goldentree Asset Management LP owned approximately 0.06% of Comcast as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Tevis Investment Management grew its stake in shares of Comcast by 4.6% during the 3rd quarter. Tevis Investment Management now owns 42,685 shares of the cable giant’s stock worth $1,341,000 after acquiring an additional 1,885 shares during the period. Cantor Fitzgerald L. P. bought a new stake in Comcast in the 3rd quarter valued at about $1,885,000. ARQ Wealth Advisors LLC bought a new stake in Comcast in the 3rd quarter valued at about $690,000. CIBC Bancorp USA Inc. purchased a new stake in Comcast during the third quarter valued at about $36,966,000. Finally, Achmea Investment Management B.V. boosted its position in Comcast by 23.5% during the third quarter. Achmea Investment Management B.V. now owns 312,314 shares of the cable giant’s stock worth $9,812,000 after purchasing an additional 59,483 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

NASDAQ:CMCSA opened at $28.57 on Thursday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72. The stock has a fifty day moving average of $30.24 and a 200 day moving average of $29.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $102.79 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 2.35 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. On average, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMCSA. TD Cowen reduced their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $37.00 in a report on Monday, January 12th. Arete Research set a $23.00 price objective on shares of Comcast in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Finally, Sanford C. Bernstein dropped their target price on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.87.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.32% of the stock is owned by corporate insiders.

Comcast Company 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.