CIBC Asset Management Inc Acquires 675,546 Shares of Comcast Corporation $CMCSA

CIBC Asset Management Inc increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 54.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,914,600 shares of the cable giant’s stock after purchasing an additional 675,546 shares during the quarter. CIBC Asset Management Inc’s holdings in Comcast were worth $57,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CMCSA. Marble Wealth LLC purchased a new stake in Comcast during the fourth quarter valued at $467,000. Mccarter Private Wealth Services LLC increased its position in Comcast by 39.7% during the fourth quarter. Mccarter Private Wealth Services LLC now owns 13,931 shares of the cable giant’s stock valued at $416,000 after acquiring an additional 3,962 shares during the last quarter. Bank of New York Mellon Corp increased its position in Comcast by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 27,446,578 shares of the cable giant’s stock valued at $820,378,000 after acquiring an additional 1,609,451 shares during the last quarter. Westpac Banking Corp increased its position in Comcast by 70.6% during the fourth quarter. Westpac Banking Corp now owns 32,589 shares of the cable giant’s stock valued at $974,000 after acquiring an additional 13,486 shares during the last quarter. Finally, Peak Retirement Planning Inc. increased its position in Comcast by 35.6% during the fourth quarter. Peak Retirement Planning Inc. now owns 67,834 shares of the cable giant’s stock valued at $2,028,000 after acquiring an additional 17,824 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA opened at $23.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The business has a 50-day simple moving average of $26.98 and a two-hundred day simple moving average of $28.48. The stock has a market cap of $84.02 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 2.02 and a beta of 0.67. Comcast Corporation has a 52 week low of $23.43 and a 52 week high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given 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 dividend payout ratio (DPR) is currently 25.98%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CMCSA shares. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Friday, April 24th. Citigroup upped their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Scotiabank upped their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.79.

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.