Private Management Group Inc. Buys 123,668 Shares of Comcast Corporation $CMCSA

Private Management Group Inc. raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,448,982 shares of the cable giant’s stock after purchasing an additional 123,668 shares during the quarter. Comcast comprises 1.3% of Private Management Group Inc.’s holdings, making the stock its 8th biggest position. Private Management Group Inc.’s holdings in Comcast were worth $43,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Comcast during the 3rd quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in shares of Comcast in the 3rd quarter valued at $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Comcast in the 4th quarter valued at $27,000. Olistico Wealth LLC purchased a new stake in shares of Comcast in the 4th quarter valued at $29,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 691 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $23.97 on Friday. The company’s fifty day moving average price is $26.39 and its 200 day moving average price is $28.34. Comcast Corporation has a 1 year low of $23.13 and a 1 year high of $36.66. The company has a market capitalization of $85.63 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. 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 (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Comcast’s dividend payout ratio is 25.98%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMCSA shares. Wall Street Zen raised shares of Comcast to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. BNP Paribas Exane dropped their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Royal Bank Of Canada upped their price objective on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley upped their price objective on shares of Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.56.

About Comcast

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.