LGT Group Foundation Purchases 427,703 Shares of Comcast Corporation $CMCSA

LGT Group Foundation boosted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1,462.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 456,942 shares of the cable giant’s stock after purchasing an additional 427,703 shares during the quarter. LGT Group Foundation’s holdings in Comcast were worth $14,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital A Wealth Management LLC lifted its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares in the last quarter. Avalon Trust Co increased its position in shares of 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 acquiring an additional 624 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Comcast during the second quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Comcast in the 2nd quarter worth about $31,000. Finally, Total Investment Management Inc. bought a new position in Comcast in the 2nd quarter valued at about $33,000. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMCSA. BNP Paribas Exane downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a research note on Tuesday, February 24th. UBS Group lowered their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Arete Research set a $23.00 price target on Comcast in a report on Tuesday, January 6th. Finally, Citigroup reissued a “buy” rating and issued a $33.00 price target (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.87.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Comcast Trading Up 1.0%

Shares of CMCSA stock opened at $31.91 on Monday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $30.06 and a two-hundred day simple moving average of $29.94. The company has a market capitalization of $114.81 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 2.49 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

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.