Readystate Asset Management LP Purchases 15,924 Shares of Comcast Corporation $CMCSA

Readystate Asset Management LP grew its position in Comcast Corporation (NASDAQ:CMCSA) by 94.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 32,775 shares of the cable giant’s stock after purchasing an additional 15,924 shares during the period. Readystate Asset Management LP’s holdings in Comcast were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CMCSA. Vanguard Group Inc. boosted its position in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp raised its stake in Comcast by 2.5% in the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares in the last quarter. Dodge & Cox raised its stake in Comcast by 18.1% in the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Norges Bank bought a new stake in Comcast in the 2nd quarter valued at about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Comcast by 7.5% during 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. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of CMCSA stock opened at $31.60 on Thursday. The business has a fifty day simple moving average of $29.55 and a 200 day simple moving average of $30.07. The company has a market cap of $113.69 billion, a P/E ratio of 5.88, a P/E/G ratio of 2.46 and a beta of 0.81. 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 twelve month low of $25.75 and a twelve month high of $37.97.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is currently 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMCSA. Arete Research set a $23.00 price target on Comcast in a research note on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a report on Friday, January 30th. UBS Group reduced their target price on Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft decreased their price target on Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Morgan Stanley cut their price objective on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. Ten research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.90.

Comcast Company 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.