Mirae Asset Global Investments Co. Ltd. Makes New Investment in Comcast Corporation $CMCSA

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,213,573 shares of the cable giant’s stock, valued at approximately $135,207,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD purchased a new stake in Comcast during the first quarter worth about $27,000. GKV Capital Management Co. Inc. purchased a new stake in Comcast during the first quarter worth about $32,000. Financial Freedom LLC boosted its holdings in Comcast by 72.8% during the first quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant’s stock worth $32,000 after buying an additional 465 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in Comcast during the second quarter worth about $26,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.22 on Friday. The stock has a market cap of $82.45 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 1.64 and a beta of 0.68. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85. The company’s 50-day moving average price is $23.40 and its 200 day moving average price is $26.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company had revenue of $29.30 billion during the quarter, compared to analysts’ expectations of $29.22 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, research analysts forecast that Comcast Corporation will post 3.54 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast’s dividend payout ratio (DPR) is 41.77%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMCSA. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $23.00 target price on shares of Comcast in a report on Tuesday, October 13th. TD Cowen decreased their price target on Comcast from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Rosenblatt Securities reissued a “buy” rating and set a $31.00 price target on shares of Comcast in a research note on Monday, October 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $23.00 price target on shares of Comcast in a report on Thursday, October 22nd. Finally, Morgan Stanley dropped their price objective on Comcast from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, September 25th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.17.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.