Private Management Group Inc. Purchases 45,016 Shares of Comcast Corporation $CMCSA

Private Management Group Inc. increased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,808,465 shares of the cable giant’s stock after buying an additional 45,016 shares during the period. Comcast accounts for about 1.0% of Private Management Group Inc.’s portfolio, making the stock its 25th biggest position. Private Management Group Inc.’s holdings in Comcast were worth $39,352,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allied Private Wealth LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $26,000. Main Street Group LTD purchased a new position in shares of Comcast during the first quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of Comcast during the third quarter worth $27,000. Thompson Investment Management Inc. purchased a new position in shares of Comcast during the second quarter worth $29,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Comcast during the first quarter valued at $32,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMCSA shares. UBS Group reaffirmed a “neutral” rating and issued a $27.00 price target (down from $32.00) on shares of Comcast in a report on Tuesday, September 15th. Citigroup reduced their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, September 24th. Scotiabank decreased their price objective on Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a report on Friday, October 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $23.00 target price on shares of Comcast in a research note on Thursday, October 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $35.00 target price (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Hold” and an average price target of $28.77.

Comcast Trading Up 0.5%

CMCSA stock opened at $24.51 on Tuesday. The company’s 50-day simple moving average is $23.09 and its 200-day simple moving average is $25.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 52-week low of $20.48 and a 52-week high of $32.85. The firm has a market cap of $87.04 billion, a P/E ratio of 7.76, a PEG ratio of 1.75 and a beta of 0.72.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The firm had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. During the same quarter in the previous year, the business earned $1.12 EPS. Comcast’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. Comcast’s dividend payout ratio is currently 41.77%.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.