Cullen Capital Management LLC Takes $129.80 Million Position in Comcast Corporation $CMCSA

Cullen Capital Management LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,287,200 shares of the cable giant’s stock, valued at approximately $129,801,000.

Several other large investors also recently modified their holdings of CMCSA. Norges Bank bought a new stake in shares of Comcast during the 4th quarter valued at about $2,498,626,000. Capital World Investors lifted its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Capital Research Global Investors lifted its stake in shares of Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after purchasing an additional 21,958,603 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after buying an additional 10,359,800 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CMCSA shares. New Street Research reduced their target price on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 25th. UBS Group restated a “neutral” rating on shares of Comcast in a research note on Tuesday, June 23rd. The Goldman Sachs Group decreased their target price on Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Barclays set a $26.00 target price on Comcast and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada set a $26.00 price target on Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.96.

Comcast Price Performance

NASDAQ:CMCSA opened at $27.02 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $95.88 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.53 and a beta of 0.67. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45. The business’s 50-day moving average is $24.14 and its 200 day moving average is $26.76.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio is currently 42.72%.

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.