OP Asset Management Ltd Makes New Investment in Comcast Corporation $CMCSA

OP Asset Management Ltd purchased a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 375,863 shares of the cable giant’s stock, valued at approximately $10,791,000.

Several other large investors have also recently modified their holdings of CMCSA. Vanguard Group Inc. raised its position in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after acquiring an additional 2,160,829 shares during the last quarter. North Dakota State Investment Board bought a new stake in Comcast in the fourth quarter valued at approximately $3,754,000. Vest Financial LLC boosted its holdings in Comcast by 72.1% in the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock valued at $6,961,000 after acquiring an additional 97,601 shares during the last quarter. Victory Capital Management Inc. increased its position in Comcast by 9.7% during the 3rd quarter. Victory Capital Management Inc. now owns 7,834,053 shares of the cable giant’s stock valued at $246,146,000 after purchasing an additional 693,156 shares during the period. Finally, Axxcess Wealth Management LLC increased its position 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 purchasing an additional 72,129 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BNP Paribas Exane dropped their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 price objective on shares of Comcast in a research report on Thursday, April 23rd. Scotiabank lifted their target price on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Friday, April 24th. Finally, Morgan Stanley increased their price target on Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.46.

Comcast Trading Up 0.2%

Shares of Comcast stock opened at $22.69 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 52 week low of $22.13 and a 52 week high of $36.66. The stock has a 50 day moving average price of $25.39 and a two-hundred day moving average price of $28.07. The stock has a market capitalization of $81.05 billion, a PE ratio of 4.47, a price-to-earnings-growth ratio of 1.84 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, July 1st. Comcast’s payout ratio 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.