Parnassus Investments LLC Purchases 55,917 Shares of Comcast Corporation $CMCSA

Parnassus Investments LLC grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,045,409 shares of the cable giant’s stock after acquiring an additional 55,917 shares during the period. Parnassus Investments LLC’s holdings in Comcast were worth $64,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Comcast during the second quarter valued at $3,528,361,000. Dodge & Cox increased its position in Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares during the last quarter. First Trust Advisors LP lifted its stake in Comcast by 133.1% in the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock worth $363,580,000 after purchasing an additional 5,817,614 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in Comcast by 554.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 5,005,158 shares of the cable giant’s stock valued at $178,634,000 after acquiring an additional 4,240,876 shares during the period. Finally, State Street Corp grew its holdings in shares of Comcast by 2.5% in the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 0.6%

Shares of NASDAQ CMCSA opened at $28.37 on Friday. The stock has a fifty day simple moving average of $28.00 and a 200-day simple moving average of $31.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $38.40. The stock has a market capitalization of $103.38 billion, a PE ratio of 4.72, a PEG ratio of 1.97 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. On average, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. Comcast’s payout ratio is 21.96%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent research reports. TD Cowen reduced their price target on shares of Comcast from $46.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 31st. Arete lowered shares of Comcast from a “neutral” rating to a “sell” rating and set a $23.00 price target on the stock. in a research note on Tuesday. Bank of America decreased their target price on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Loop Capital decreased their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Eleven research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and a consensus target price of $35.24.

Comcast 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.