Senator Investment Group LP Invests $34.97 Million in Comcast Corporation $CMCSA

Senator Investment Group LP purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,170,000 shares of the cable giant’s stock, valued at approximately $34,971,000.

Other hedge funds have also recently modified their holdings of the company. Imprint Wealth LLC purchased a new stake in shares of Comcast in the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new stake in shares of Comcast in the 3rd quarter worth approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Comcast in the 4th quarter worth approximately $27,000. Olistico Wealth LLC purchased a new stake in shares of Comcast in the 4th quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMCSA shares. Wall Street Zen raised shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Scotiabank upped their price target on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Rosenblatt Securities decreased their target price on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 target price on shares of Comcast in a research report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and an average target price of $34.56.

Comcast Trading Down 2.2%

NASDAQ:CMCSA opened at $23.97 on Tuesday. Comcast Corporation has a 52 week low of $23.13 and a 52 week high of $36.66. The firm has a 50 day moving average of $26.24 and a 200 day moving average of $28.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $85.63 billion, a price-to-earnings ratio of 4.72, a PEG ratio of 1.99 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last posted its earnings results 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 net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Comcast’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

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.