Van Cleef Asset Management Inc Has $12.10 Million Stake in Comcast Corporation $CMCSA

Van Cleef Asset Management Inc raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 78.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 421,282 shares of the cable giant’s stock after acquiring an additional 184,963 shares during the quarter. Comcast comprises 1.3% of Van Cleef Asset Management Inc’s portfolio, making the stock its 20th biggest holding. Van Cleef Asset Management Inc’s holdings in Comcast were worth $12,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Torray Investment Partners LLC acquired a new position in shares of Comcast during the 1st quarter valued at about $15,936,000. Candriam S.C.A. lifted its holdings in Comcast by 5.9% in the 1st quarter. Candriam S.C.A. now owns 328,918 shares of the cable giant’s stock worth $9,443,000 after purchasing an additional 18,284 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Comcast by 10.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 597,819 shares of the cable giant’s stock worth $17,163,000 after purchasing an additional 55,737 shares during the last quarter. ARGA Investment Management LP boosted its position in Comcast by 19,080.0% during the first quarter. ARGA Investment Management LP now owns 1,356,984 shares of the cable giant’s stock worth $38,959,000 after purchasing an additional 1,349,909 shares during the period. Finally, KLCM Advisors Inc. bought a new stake in Comcast during the first quarter worth approximately $237,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA traded up $0.23 during mid-day trading on Friday, hitting $23.57. The company’s stock had a trading volume of 25,483,585 shares, compared to its average volume of 40,679,600. The stock’s 50-day moving average is $24.27 and its two-hundred day moving average is $27.70. The firm has a market capitalization of $84.20 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 1.92 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a one year low of $22.13 and a one year high of $36.01.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. Comcast’s payout ratio is presently 25.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. BNP Paribas Exane decreased their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a report on Wednesday, April 8th. New Street Research lowered their target price on shares of Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Royal Bank Of Canada lifted their target price on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley decreased their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.04.

Comcast 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.