Point72 Hong Kong Ltd Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Point72 Hong Kong Ltd acquired a new stake in Comcast Co. (NASDAQ:CMCSA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 115,350 shares of the cable giant’s stock, valued at approximately $4,818,000.

A number of other institutional investors have also made changes to their positions in CMCSA. FMR LLC increased its position in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after purchasing an additional 6,062,658 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock valued at $339,223,000 after buying an additional 4,182,525 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Comcast by 530.5% during the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after buying an additional 2,885,370 shares during the last quarter. Darsana Capital Partners LP raised its position in Comcast by 26.7% during the second quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock worth $372,020,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Comcast by 211.7% during the third quarter. SG Americas Securities LLC now owns 2,890,571 shares of the cable giant’s stock worth $120,739,000 after acquiring an additional 1,963,246 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Insider Activity

In other news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the sale, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Comcast in a research note on Tuesday, November 19th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Macquarie upped their price objective on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Finally, KeyCorp boosted their target price on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Comcast Stock Performance

NASDAQ CMCSA opened at $43.19 on Friday. The firm has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $40.17. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The company has a market capitalization of $165.27 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.63 and a beta of 1.00. 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 (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 33.33%.

About Comcast

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.