Kiwi Wealth Investments Limited Partnership Takes $12.78 Million Position in Comcast Corporation (CMCSA)
Kiwi Wealth Investments Limited Partnership bought a new position in Comcast Corporation (NASDAQ:CMCSA) during the third quarter, Holdings Channel reports. The fund bought 332,178 shares of the cable giant’s stock, valued at approximately $12,782,000. Comcast accounts for approximately 1.5% of Kiwi Wealth Investments Limited Partnership’s investment portfolio, making the stock its 24th largest position.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMCSA. Vanguard Group Inc. increased its position in shares of Comcast by 2.8% in the second quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock worth $12,331,646,000 after acquiring an additional 8,677,771 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Comcast by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock worth $2,218,587,000 after acquiring an additional 680,012 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Comcast by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 52,622,437 shares of the cable giant’s stock worth $2,048,075,000 after acquiring an additional 522,139 shares in the last quarter. Veritas Asset Management LLP increased its position in shares of Comcast by 3.7% in the third quarter. Veritas Asset Management LLP now owns 33,195,373 shares of the cable giant’s stock worth $1,277,358,000 after acquiring an additional 1,189,200 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Comcast by 6.0% in the second quarter. Alliancebernstein L.P. now owns 32,710,682 shares of the cable giant’s stock worth $1,273,100,000 after acquiring an additional 1,839,436 shares in the last quarter. Institutional investors and hedge funds own 82.13% of the company’s stock.
Shares of Comcast Corporation (NASDAQ CMCSA) opened at $42.44 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $198,350.00, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. Comcast Corporation has a 1 year low of $34.78 and a 1 year high of $42.71.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. sell-side analysts predict that Comcast Corporation will post 2.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be given a $0.157 dividend. This represents a $0.63 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 2nd. Comcast’s dividend payout ratio is 29.72%.
In other news, EVP Arthur R. Block sold 3,937 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares in the company, valued at $2,678,726.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the sale, the chairman now owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Insiders sold 593,402 shares of company stock valued at $22,961,401 over the last three months. Insiders own 1.28% of the company’s stock.
A number of research analysts recently commented on CMCSA shares. Pivotal Research boosted their price objective on shares of Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Barclays lowered their price objective on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. KeyCorp reaffirmed a “neutral” rating on shares of Comcast in a research report on Sunday, September 17th. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 price objective on shares of Comcast in a research report on Friday, November 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $49.00 price objective on shares of Comcast in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.15.
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Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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