Comcast Corporation $CMCSA Holdings Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263,685 shares of the cable giant’s stock after acquiring an additional 24,868 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Comcast were worth $5,738,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CMCSA. Verus Capital Partners LLC bought a new stake in Comcast in the 3rd quarter valued at about $208,000. Parallel Advisors LLC raised its stake in Comcast by 20.1% in the third quarter. Parallel Advisors LLC now owns 40,361 shares of the cable giant’s stock valued at $878,000 after purchasing an additional 6,765 shares in the last quarter. Abacus Wealth Partners LLC raised its position in shares of Comcast by 18.6% in the 3rd quarter. Abacus Wealth Partners LLC now owns 10,910 shares of the cable giant’s stock valued at $237,000 after buying an additional 1,709 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in Comcast by 86.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 61,314 shares of the cable giant’s stock valued at $1,334,000 after purchasing an additional 28,422 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of Comcast during the 3rd quarter worth $129,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $24.39 on Monday. The firm has a market cap of $86.61 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 1.72 and a beta of 0.72. 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 12-month low of $20.48 and a 12-month high of $32.85. The company’s fifty day simple moving average is $23.14 and its 200 day simple moving average is $25.99.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion during the quarter, compared to the consensus estimate of $29.22 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts expect that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMCSA shares. Royal Bank Of Canada set a $26.00 price objective on shares of Comcast and gave the company a “sector perform” rating in a research note on Friday, July 24th. TD Cowen dropped their price target on Comcast from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Citigroup cut their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Thursday, September 24th. KeyCorp lowered Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price objective on the stock. in a research report on Thursday, September 24th. Finally, Raymond James Financial restated a “market perform” rating on shares of Comcast in a research report on Friday, October 2nd. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $28.77.

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.