Comcast Corporation $CMCSA Shares Bought by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 274.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 616,597 shares of the cable giant’s stock after purchasing an additional 451,938 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Comcast were worth $15,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. North Dakota State Investment Board acquired a new stake in shares of Comcast during the fourth quarter worth $3,754,000. Inceptionr LLC acquired a new stake in Comcast during the 1st quarter worth about $660,000. Bank of America Corp DE grew its stake in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Comcast by 7.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock valued at $21,487,000 after purchasing an additional 62,671 shares during the period. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Comcast by 53.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after purchasing an additional 72,129 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 0.6%

CMCSA stock opened at $26.49 on Friday. Comcast Corporation has a one year low of $21.28 and a one year high of $34.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average is $24.86 and its 200 day moving average is $26.49. The firm has a market cap of $94.00 billion, a PE ratio of 8.57, a P/E/G ratio of 1.89 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts forecast that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Comcast’s payout ratio is 42.72%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CMCSA shares. Citigroup dropped their target price on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. The Goldman Sachs Group decreased their target price on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Moffett Nathanson cut their price target on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, Morgan Stanley set a $29.00 target price on Comcast in a report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus price target of $32.96.

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.