Capital Research & Management Co.. recently announced the acquisition of new stake in Comcast Corporation (NASDAQ:CMCSA). The institutional investor has increased its shareholding in the Communication Services company by 16.35% to 185.91 million shares with purchase of 26.13 million shares. This fresh investment now brings its stake to 4.08% valued currently at $7.96 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 2.02 million to 177.76 million shares. And Wellington Management Co. LLP has lifted its position by 4.87% or 5.61 million shares – to 120.87 million shares.
With over 24.87 million Comcast Corporation (CMCSA) shares trading Monday and a closing price of $44.81 on the day, the dollar volume was approximately $1.11 billion. The shares have shown a positive weekly performance of 2.31% and its price on 08/31/20 gained nearly 0.56%. Currently, there are 4.57B common shares owned by the public and among those 4.52B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 32 analysts who have offered their price forecasts for CMCSA have a consensus price objective of $49.08. The analysts have set the share’s price value over the next 12 months at a high of $55.00 and a low of $40.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Comcast Corporation stock is 2.10 for the next 12 months. The average price target is 7.86% above its last price level and an upside to the estimated low will see the stock lose -12.03% over that period. But an upside of 18.53% will see the stock hit the forecast high price target while mean target price for the stock is $49.50.
Insiders at the company have transacted a total of 176 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 81 of these insider trades were purchases, accounting for 6,328,610 shares. Insider sales of the common stock occurred on 95 occasions, with total insider shares sold totaling 5,873,373 shares.
The top 3 mutual fund holders in Comcast Corporation are Vanguard Total Stock Market Index, Washington Mutual Investors Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 129.46 million shares of the company’s stock, all valued at over $5.54 billion. The company sold -0.35 million shares recently to bring their total holdings to about 2.84% of the shares outstanding. Washington Mutual Investors Fund bought 9.91 million shares to see its total holdings expand to 113.38 million shares valued at over $4.85 billion and representing 2.49% of the shares outstanding. Vanguard 500 Index Fund sold -0.57 million shares to bring its total holdings to over 93.93 million shares at a value of $4.02 billion. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of Comcast Corporation (NASDAQ: CMCSA) opened at $44.26, down -$0.3 from a prior closing price of $44.56. However, the script later closed the day at $44.81, up 0.56%. The company’s stock has a 5-day price change of 2.31% and 9.88% over the past three months. CMCSA shares are trading -0.36% year to date (YTD), with the 12-month market performance up to 1.24% higher. It has a 12-month low price of $31.70 and touched a high of $47.74 over the same period. Currently, 24.87 million shares have been traded, compared to an average intraday trading volume of 17.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.27%, 6.93%, and 8.58% respectively.
Institutional ownership of Comcast Corporation (NASDAQ: CMCSA) shares accounts for 85.90% of the company’s 4.57B shares outstanding. Mutual fund holders own 35.92%, while other institutional holders and individual stakeholders account for 49.41% and 0.78% respectively.
It has a market capitalization of $204.60B and a beta (3y monthly) value of 0.96. The stock’s trailing 12-month PE ratio is 17.97, while the earnings-per-share (ttm) stands at $2.49. The company has a PEG of 3.63 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 1.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.89% over the week and 1.74% over the month.
Analysts forecast that Comcast Corporation (CMCSA) will achieve an EPS of $0.47 for the current quarter, $0.53 for the next quarter and $2.96 for 2021. The lowest estimate earnings-per-share for the quarter is $0.38 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to increase by 11.80%, and 23.38% over the next financial year. EPS should shrink at an annualized rate of 4.95% over the next five years, compared to 12.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 32 brokerage firm advisors rate Comcast Corporation (CMCSA) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 22 Wall Street analysts polled rate the stock as a buy, while 8 of the 32 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CMCSA, a number of firms have released research notes about the stock. Bernstein stated their Outperform rating for the stock in a research note on July 01, 2020, with the firm’s price target at $48-$52. Guggenheim coverage for the Comcast Corporation (CMCSA) stock in a research note released on May 19, 2020 offered a Neutral rating with a price target of. KeyBanc Capital Markets was of a view on May 01, 2020 that the stock is Sector Weight, while Oppenheimer gave the stock Perform rating on April 17, 2020, issuing a price target of. Robert W. Baird on their part issued Neutral rating on March 23, 2020.