Tocqueville Asset Management Increases Comcast Stake

Tocqueville Asset Management L.P. has increased its investment in Comcast Co. (NASDAQ:CMCSA - Free Report) by 2.5% in the last quarter of the year, as disclosed in its recent filing with the SEC. This institutional investor now holds 402,561 shares of Comcast's stock after buying an additional 9,662 shares during this period. The value of Tocqueville's holdings in Comcast at the end of this reporting period is approximately $15.11 million.

Other Investor Activity

In addition to Tocqueville, several other major investment firms have also adjusted their positions in Comcast. For instance, FMR LLC raised its stake by 5.4% in the third quarter, accumulating 117,420,328 shares worth about $4.90 billion, following an acquisition of 6,062,658 shares in the last quarter. Furthermore, First Eagle Investment Management LLC increased its investment in Comcast by 7.1% in the fourth quarter, bringing its total to 34,101,077 shares, valued at roughly $1.28 billion after purchasing an additional 2,270,186 shares.

Charles Schwab Investment Management Inc. also boosted its stake in Comcast by 2.6% over the same period, now holding 32,709,601 shares worth about $1.23 billion after acquiring an additional 838,366 shares. Moreover, UBS Asset Management Americas LLC enhanced its position in Comcast by 6.0%, owning 30,364,136 shares valued at $1.27 billion after a gain of 1,717,762 shares. Finally, Amundi significantly increased its stake by 147.9% during the fourth quarter, now possessing 24,086,671 shares valued at around $895.50 million after adding 14,369,056 shares.

Comcast Stock Performance

As of Tuesday, shares of Comcast are trading at $35.75. The company has a market capitalization of $135.17 billion. Comcast's price-to-earnings ratio stands at 8.61, complemented by a PEG ratio of 1.78 and a beta value of 1.00. The firm has current and quick ratios of 0.68, alongside a debt-to-equity ratio of 1.09. Over the past year, Comcast's stock has fluctuated between a low of $32.50 and a high of $45.31. Its 50-day moving average is $35.88, while the 200-day is at $39.16.

Recent Earnings Report

Comcast recently announced its quarterly earnings results on January 30th, reporting an earnings per share (EPS) of $0.96, which surpassed analysts' expectations of $0.88 by $0.08. The company recorded a net margin of 13.09% and a return on equity of 19.98%. Analysts expect Comcast to post an EPS of 4.33 for the current year.

Dividend Announcement

The firm has declared a quarterly dividend, set to be paid on April 23rd. Shareholders on record by April 2nd will receive a dividend of $0.33 per share, translating to an annualized dividend of $1.32, yielding around 3.69%. This is an increase from the previous quarterly dividend of $0.31. Comcast's dividend payout ratio currently stands at 31.81%.

Recent Analyst Ratings

Recent reports from market analysts indicate varied views on Comcast's stock performance. Rosenblatt Securities has lowered its price target from $45.00 to $36.00, designating a "neutral" rating for the stock. Scotiabank also downgraded Comcast's rating from "sector outperform" to "sector perform," with its price target adjusted from $48.00 to $44.50. Similarly, Barclays reduced its price objective from $42.00 to $37.00 while keeping an "equal weight" rating. Conversely, Goldman Sachs decreased its price target from $50.00 to $44.00 but maintained a "buy" rating. Notably, Seaport Res Ptn upgraded its rating from "hold" to "strong buy". In total, nine analysts have given the stock a hold rating, nine issued a buy rating, and three assigned a strong buy rating. According to MarketBeat.com, the average consensus rating for Comcast is "Moderate Buy," with an average target price of $43.83.

About Comcast

Comcast Corporation is a global media and technology company. It operates through various segments, including Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks. The Residential Connectivity & Platforms segment offers broadband and wireless services along with residential and business video services and advertising.

investment, stocks, dividend