Capital Research & Management Co recently announced the acquisition of new stake in Comcast Corp (NASDAQ:CMCSA). The institutional investor has increased its shareholding in the Communication Services company by 3.69% to 92.15 million shares with purchase of 3.28 million shares. This fresh investment now brings its stake to 2.30% valued currently at $4.04 billion. In addition, Geode Capital Management LLC raised its holdings by 0.99 million to 81.4 million shares.
With over 12.74 million Comcast Corp (CMCSA) shares trading Friday and a closing price of $42.99 on the day, the dollar volume was approximately $547.69 million. The shares have shown a positive half year performance of 2.33% and its price on 01/12/24 lost nearly -0.65%. Currently, there are 4.21B common shares owned by the public and among those 3.98B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for CMCSA have a consensus price objective of $49.94. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $43.00. The average price target is 13.92% above its recent price level and an upside to the estimated low will see the stock gain 0.02% over that period. But an upside of 25.88% will see the stock hit the forecast high price target while median target price for the stock is $50.00.
Insiders at the company have transacted a total of 83 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 1,491,789 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 2,175,935 shares.
The top 3 mutual fund holders in Comcast Corp are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 128.98 million shares of the company’s stock, all valued at over $5.66 billion. The company bought an additional 0.18 million shares recently to bring their total holdings to about 3.21% of the shares outstanding. Vanguard 500 Index Fund bought 0.47 million shares to see its total holdings expand to 99.39 million shares valued at over $4.36 billion and representing 2.48% of the shares outstanding. Washington Mutual Investors Fund sold -6.95 million shares to bring its total holdings to over 95.48 million shares at a value of $4.19 billion. Washington Mutual Investors Fund now owns shares totaling to 2.38% of the shares outstanding.
Shares of Comcast Corp (NASDAQ: CMCSA) opened at $43.42, up $0.15 from a prior closing price of $43.27. The company’s stock has a 5-day price change of -0.12% and -2.07% over the past three months. CMCSA shares are trading -1.96% year to date (YTD), with the 12-month market performance up to 13.28% higher. It has a 12-month low price of $34.63 and touched a high of $47.46 over the same period. CMCSA has an average intraday trading volume of 18.63 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 -1.93%, 0.38%, and 1.51% respectively.
Institutional ownership of Comcast Corp (NASDAQ: CMCSA) shares accounts for 85.42% of the company’s 4.21B shares outstanding. Mutual fund holders own 34.39%, while other institutional holders and individual stakeholders account for 51.63% and 0.90% respectively.
It has a market capitalization of $173.04B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 11.93, while the earnings-per-share (ttm) stands at $3.60. The company has a PEG of 1.26 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.64% over the week and 1.70% over the month.
Analysts forecast that Comcast Corp (CMCSA) will achieve an EPS of $CMS Energy Corporation 5.625% J for the current quarter, $23.17 for the next quarter and $ETF for Type. The lowest estimate earnings-per-share for the quarter is $CMS Energy Corporation 5.625% J while analysts give the company a high EPS estimate of $Capitalworks Emerging Markets A. Comparatively, EPS for the current quarter was $Comcast Corporation a year ago. Earnings per share for the fiscal year are expected to increase by 6.76%, and 10.14% over the next financial year. EPS should grow at an annualized rate of 9.44% over the next five years, compared to -23.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate Comcast Corp (CMCSA) as a “Strong Buy” at a consensus score of 1.87. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 12 of the 31 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. Pivotal Research Group stated their Buy rating for the stock in a research note on December 13, 2023, with the firm’s price target at $55-$58.
