Van ECK Associates Corp Buys 3,896,466 Shares of Comcast Corporation $CMCSA

Van ECK Associates Corp lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 72.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,290,657 shares of the cable giant’s stock after acquiring an additional 3,896,466 shares during the quarter. Van ECK Associates Corp’s holdings in Comcast were worth $277,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in Comcast during the third quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new position in shares of Comcast in the third quarter worth $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast in the fourth quarter worth $27,000. Olistico Wealth LLC purchased a new position in shares of Comcast in the fourth quarter worth $29,000. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Up 2.2%

CMCSA stock opened at $24.50 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a twelve month low of $23.13 and a twelve month high of $36.66. The stock has a market capitalization of $87.52 billion, a price-to-earnings ratio of 4.82, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The firm’s fifty day simple moving average is $26.32 and its two-hundred day simple moving average is $28.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s 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 earnings per share. As a group, analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. Comcast’s dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CMCSA shares. KeyCorp reissued a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. BNP Paribas Exane lowered their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price target on shares of Comcast in a research note on Thursday, April 23rd. Rosenblatt Securities decreased their price target on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Finally, Citigroup upped their price target on shares of Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.56.

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.