AlTi Global Inc. Boosts Stock Position in Comcast Corporation $CMCSA

AlTi Global Inc. grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 15.8% in the second quarter, Holdings Channel reports. The institutional investor owned 30,770 shares of the cable giant’s stock after acquiring an additional 4,204 shares during the quarter. AlTi Global Inc.’s holdings in Comcast were worth $1,100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dodge & Cox increased its position in shares of Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock worth $1,240,955,000 after purchasing an additional 926,663 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Comcast during the first quarter worth approximately $940,015,000. Harris Associates L P increased its position in shares of Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after purchasing an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Comcast by 2.2% during the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock worth $746,980,000 after purchasing an additional 427,705 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research reports. The Goldman Sachs Group dropped their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Bank of America dropped their price target on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Sanford C. Bernstein dropped their price target on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Citigroup reissued a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.76.

Comcast Stock Performance

NASDAQ CMCSA opened at $29.28 on Friday. The stock’s fifty day moving average is $31.92 and its two-hundred day moving average is $33.53. The firm has a market capitalization of $108.11 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 1.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a fifty-two week low of $29.15 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.34 billion for the quarter. On average, research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.