Look For Institutional Buying In Comcast Corporation (NASDAQ: CMCSA)


    Capital Research & Management Co.. has recently announced that it has increased stake in Comcast Corporation (NASDAQ:CMCSA) by 16.35%. After grabbing 185.91 million shares, the institutional investor is now in possession of 26.13 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 4.08% having worth around $7.96 billion. Moreover, SSgA Funds Management, Inc. increased its share by 2.02 million to have a control over 177.76 million shares. And Wellington Management Co. LLP raised its holdings to 5.61 million shares by acquiring 120.87 million shares or 2.65% of the stake.

    Comcast Corporation (CMCSA) concluded trading on 08/27/20 at a closing price of $44.54, with 14.07 million shares of worth about $626.79 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 2.94% during that period and on Thursday the price saw a gain of about 0.77%. Currently the company’s common shares owned by public are about 4.57B shares, out of which, 4.52B shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 33 analysts are covering the CMCSA stock and their offered price forecasts bring an average price target of $48.93. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $55.00 and could fall to a lowest price of $40.00. Analysts also issued an outlook of 2.10 for the Comcast Corporation stock for next 12 months. The stock’s current price level is 8.41% above of average price target set by the analysts, while a rise to estimated low would result in loss of -11.35 for the stock. However, touching the estimated high of $55.00 would mean a gain of 19.02% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 176 times over the past 12 months. They bought 6,328,610 shares in 81 of the transactions. In 95 selling transactions, insiders dumped 5,873,373 shares.

    Vanguard Total Stock Market Index, Washington Mutual Investors Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Comcast Corporation Vanguard Total Stock Market Index is currently holding 129.46 million shares of worth totaling $5.54 billion. The company recently came selling -0.35 million shares which brought its stake up to 2.84% of the company’s outstanding shares. Washington Mutual Investors Fund bought 9.91 million shares, after which its hold over company’s outstanding shares expand to 2.49%, leaving 113.38 million shares with the mutual fund that have a worth of about $4.85 billion. Vanguard 500 Index Fund, after selling 93.93 million shares, have now control over 2.06% of the stake in the company. It holds -0.57 million shares of worth $4.02 billion.

    Comcast Corporation (NASDAQ: CMCSA) started trading at $44.56, above $0.36 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $44.54, or with a gain of 0.77%. Stock saw a price change of 2.94% in past 5 days and over the past one month there was a price change of 1.46%. Year-to-date (YTD), CMCSA shares are showing a performance of -0.96% which increased to 1.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.70 but also hit the highest price of $47.74 during that period. While comparing its average daily trading volume of 17.92 million shares, we see that about 14.07 million changed hands on the day. The stock is currently trading 2.96% above its 20-day simple moving average (SMA20), while that difference is up 6.82% for SMA50 and it goes to 7.90% higher than SMA200.

    Capital Research & Management Co.. acquired 185.91 million shares of Comcast Corporation having value of about $7.96 billion. Data submitted at the U.S SEC by Capital Research & Management Co.. revealed that the firm now holds 26.13 million shares in the company valued at close to $1163789980.38, or have control over 16.35% stake in the company. Comcast Corporation (NASDAQ: CMCSA) currently have 4.57B outstanding shares and institutions hold larger chunk of about 85.90% of that. Holding of mutual funds in the company is about 35.88% while other institutional holders and individual stake holders have control over 49.44% and 0.78% of the stake respectively.

    The stock has a current market capitalization of $204.41B and its 3Y-monthly beta is at 0.96. PE ratio of stock for trailing 12 months is 17.86, while it has posted earnings per share of $2.49 in the same period. Its PEG reads 3.61 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 1.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CMCSA, volatility over the week remained 1.90% while standing at 2.00% over the month.

    Analysts are in expectations that Comcast Corporation (CMCSA) stock would likely to be making an EPS of $0.47 in the current quarter, while forecast for next quarter ESPS is $0.53 and it is $2.96 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.38 which is $0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.79 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 11.80% while it is estimated to increase by 23.38% in next year. EPS is likely to shrink at an annualized rate of 4.95% for next 5-years, compared to annual growth of 12.10% made by the stock over the past 5-years.

    Analysts at 33 brokerage firms have issued recommendations for the Comcast Corporation (CMCSA)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 33 Wall Street analysts, 22 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on July 01, 2020 offering an Outperform rating for the stock and assigned a target price range of between $48 and $52 to it. Coverage by Guggenheim stated Comcast Corporation (CMCSA) stock as a Neutral in their note to investors on May 19, 2020, suggesting a price target of for the stock. On May 01, 2020, KeyBanc Capital Markets Downgrade their recommendations, while on April 17, 2020, Oppenheimer Downgrade their ratings for the stock with a price target of. Stock get a Neutral rating from Robert W. Baird on March 23, 2020.


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