Empyrean Capital Partners LP Makes New Investment in Comcast Corporation $CMCSA

Empyrean Capital Partners LP purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the 4th quarter, HoldingsChannel reports. The firm purchased 868,700 shares of the cable giant’s stock, valued at approximately $25,965,000.

Several other large investors also recently bought and sold shares of the stock. Cinctive Capital Management LP purchased a new stake in Comcast during the 4th quarter worth about $4,745,000. Clearline Capital LP purchased a new stake in Comcast during the 4th quarter worth about $8,601,000. Asset One Wealth Management LLC purchased a new stake in Comcast during the 4th quarter worth about $3,331,000. Armistice Capital LLC purchased a new stake in Comcast during the 4th quarter worth about $251,000. Finally, Align Financial LLC purchased a new stake in Comcast during the 4th quarter worth about $316,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rosenblatt Securities cut their price target on Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday, March 14th. Citigroup increased 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. Freedom Capital upgraded Comcast to a “hold” rating in a report on Friday, June 12th. Finally, Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.52.

Comcast Trading Down 4.1%

CMCSA opened at $22.69 on Thursday. Comcast Corporation has a one year low of $22.55 and a one year high of $36.66. The company has a market cap of $81.05 billion, a P/E ratio of 4.47, a PEG ratio of 1.93 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day simple moving average is $26.05 and its 200-day simple moving average is $28.26.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

About Comcast

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.