J. Safra Sarasin Holding AG Raises Stock Position in Comcast Corporation $CMCSA

J. Safra Sarasin Holding AG grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 207.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,582 shares of the cable giant’s stock after acquiring an additional 73,275 shares during the period. J. Safra Sarasin Holding AG’s holdings in Comcast were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after purchasing an additional 1,257,196 shares during the period. State Street Corp boosted its position in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares during the last quarter. Dodge & Cox grew its stake in Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares in the last quarter. Norges Bank bought a new stake in Comcast in the 2nd quarter valued at $3,528,361,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Comcast by 7.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after purchasing an additional 2,517,906 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 2.5%

Shares of CMCSA opened at $28.70 on Wednesday. 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 Corporation has a 52-week low of $25.75 and a 52-week high of $38.17. The company has a market cap of $104.58 billion, a PE ratio of 4.78, a P/E/G ratio of 2.07 and a beta of 0.81. The business has a fifty day moving average of $28.28 and a 200 day moving average of $30.42.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $30.74 billion. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.6%. Comcast’s dividend payout ratio is currently 21.96%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of research analyst reports. BNP Paribas Exane cut their price objective on Comcast from $28.10 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday. Rosenblatt Securities cut their price target on Comcast from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, December 1st. Loop Capital reduced their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Citigroup lowered their target price on Comcast from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Daiwa Capital Markets decreased their price target on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.47.

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.