United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in Comcast Corporation $CMCSA

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,040,546 shares of the cable giant’s stock, valued at approximately $60,992,000. Comcast makes up about 0.8% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the last quarter. State Street Corp boosted its holdings in Comcast by 4.6% during 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. Dodge & Cox boosted its holdings in Comcast by 1.2% during the third quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after buying an additional 1,295,598 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Comcast by 0.7% during the fourth quarter. First Eagle Investment Management LLC now owns 36,171,945 shares of the cable giant’s stock worth $1,081,179,000 after buying an additional 245,271 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMCSA. Scotiabank lifted their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Citigroup lifted their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a report on Friday, April 24th. New Street Research cut their price objective on Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday, March 14th. Finally, UBS Group cut their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $34.79.

Comcast Trading Down 0.2%

NASDAQ CMCSA opened at $25.16 on Friday. The stock has a market capitalization of $89.88 billion, a price-to-earnings ratio of 4.95, a PEG ratio of 2.03 and a beta of 0.71. The stock’s 50 day moving average price is $27.33 and its two-hundred day moving average price is $28.57. 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 52 week low of $24.53 and a 52 week high of $36.66.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, analysts anticipate that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.2%. Comcast’s payout ratio is 25.98%.

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.