CIBC Asset Management Inc Purchases 51,749 Shares of Comcast Co. (NASDAQ:CMCSA)

CIBC Asset Management Inc grew its position in shares of Comcast Co. (NASDAQ:CMCSA) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,304,388 shares of the cable giant’s stock after buying an additional 51,749 shares during the quarter. CIBC Asset Management Inc’s holdings in Comcast were worth $54,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. 1ST Source Bank raised its stake in shares of Comcast by 2.5% in the first quarter. 1ST Source Bank now owns 24,590 shares of the cable giant’s stock worth $1,066,000 after acquiring an additional 608 shares during the last quarter. Banco Santander S.A. raised its stake in shares of Comcast by 0.4% during the first quarter. Banco Santander S.A. now owns 235,642 shares of the cable giant’s stock worth $10,215,000 after buying an additional 982 shares during the last quarter. M&G Plc bought a new position in Comcast in the first quarter valued at approximately $88,223,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in Comcast during the 1st quarter worth $2,238,000. Finally, Councilmark Asset Management LLC acquired a new position in shares of Comcast in the 1st quarter valued at $1,185,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CMCSA shares. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research report on Wednesday, October 30th. TD Cowen decreased their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.75.

Comcast Price Performance

NASDAQ:CMCSA opened at $43.48 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The stock’s 50 day moving average price is $41.47 and its two-hundred day moving average price is $39.82. The firm has a market capitalization of $166.38 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.66 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts anticipate that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Comcast Company 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.