Sumitomo Mitsui DS Asset Management Company Ltd Acquires 43,581 Shares of Comcast Corporation $CMCSA

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 530,228 shares of the cable giant’s stock after acquiring an additional 43,581 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Comcast were worth $16,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMCSA. Capital A Wealth Management LLC boosted its holdings in shares of Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the period. Global Trust Asset Management LLC lifted its position in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after buying an additional 350 shares during the last quarter. Avalon Trust Co boosted its stake in Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares during the period. Finally, Howard Hughes Medical Institute bought a new position in Comcast during the second quarter valued at $29,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CMCSA shares. Barclays lowered their target price on shares of Comcast from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Evercore ISI cut their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target (down from $39.00) on shares of Comcast in a report on Friday, October 31st. Finally, Oppenheimer set a $38.00 price objective on Comcast in a report on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.24.

Comcast Stock Up 0.6%

Shares of NASDAQ:CMCSA opened at $28.37 on Friday. The business’s 50 day moving average is $28.00 and its 200 day moving average is $31.03. The stock has a market cap of $103.38 billion, a P/E ratio of 4.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $38.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The business had revenue of $30.34 billion during the quarter. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is presently 21.96%.

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.