Simplicity Wealth LLC Buys 258,841 Shares of Comcast Corporation $CMCSA

Simplicity Wealth LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 1,667.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,365 shares of the cable giant’s stock after acquiring an additional 258,841 shares during the quarter. Simplicity Wealth LLC’s holdings in Comcast were worth $5,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC boosted its position in shares of Comcast by 16.6% during the third quarter. Douglas Lane & Associates LLC now owns 2,549,714 shares of the cable giant’s stock worth $55,482,000 after buying an additional 363,552 shares during the period. Saudi Central Bank grew its holdings in shares of Comcast by 87.2% during the second quarter. Saudi Central Bank now owns 251,190 shares of the cable giant’s stock worth $6,167,000 after buying an additional 117,038 shares in the last quarter. Nykredit A S acquired a new stake in Comcast in the 2nd quarter valued at approximately $137,515,000. Inceptionr LLC acquired a new stake in Comcast in the 1st quarter valued at approximately $660,000. Finally, Bank of America Corp DE raised its position in Comcast by 10.2% in the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after buying an additional 3,783,234 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CMCSA. BNP Paribas Exane cut their target price on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 14th. Raymond James Financial reaffirmed a “market perform” rating on shares of Comcast in a research note on Friday, October 2nd. Weiss Ratings cut shares of Comcast from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. Barclays set a $24.00 price objective on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, September 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.58.

Comcast Trading Down 0.7%

Comcast stock opened at $22.69 on Friday. The company has a market cap of $80.52 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 1.63 and a beta of 0.68. The firm has a 50-day moving average of $23.80 and a 200-day moving average of $24.63. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.80. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. Comcast’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts expect that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, January 6th. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast reported third-quarter adjusted earnings of $1.07 per share, above the roughly $0.99 analyst consensus, while revenue of $29.3 billion was broadly in line with expectations. Wireless growth, improved Peacock profitability and strong film performance helped offset weakness elsewhere. Comcast beats earnings expectations as media revenue offsets weakness in connectivity
• Positive Sentiment: Management said approximately 70% of wireless trial lines converted to paid accounts, indicating that the wireless business may be gaining traction as Comcast seeks to diversify beyond broadband. Peacock also reached profitability, supporting momentum ahead of the planned NBCUniversal spinoff. Comcast: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Comcast declared a quarterly dividend of $0.33 per share, or $1.32 annually, offering an approximately 5.8% yield based on the reported share price. The payout may appeal to income-oriented investors, although the yield also reflects broader concerns about the stock’s growth outlook. Comcast Declares Quarterly Dividend
• Neutral Sentiment: The proposed separation of NBCUniversal from Comcast’s broadband, pay-TV and wireless operations could unlock value by allowing each business to pursue a more focused strategy. However, execution and the final structure of the transaction remain important uncertainties. Comcast Co-CEO Brian Roberts Touts Staffers’ Energy and Excitement About Pending NBCUniversal Split
• Negative Sentiment: Domestic broadband and video subscriber losses continued, with satellite and other competitors intensifying pressure on Comcast’s core connectivity business. Revenue fell about 6% year over year, and adjusted earnings declined from the prior-year quarter despite the EPS beat. Comcast broadband losses deepen as competition pressures core business
• Negative Sentiment: Comcast expects a fourth-quarter restructuring charge exceeding $1 billion, including layoffs, as it overhauls its connectivity operations. Analysts including TD Cowen, Goldman Sachs and Citi lowered price targets, underscoring investor concern that broadband weakness may persist. Comcast Flags $1 Billion Q4 Charge for Layoffs and Restructuring

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.