The Vanguard Group, Inc. 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 0.67% to 386.62 million shares with purchase of 2.59 million shares. This fresh investment now brings its stake to 8.96% valued currently at $12.27 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.19 million to 194.94 million shares. And Massachusetts Financial Services has lifted its position by 1.21% or 1.23 million shares – to 102.8 million shares.
With over 21.38 million Comcast Corporation (CMCSA) shares trading Friday and a closing price of $34.50 on the day, the dollar volume was approximately $737.77 million. The shares have shown a negative half year performance of -17.88% and its price on 11/18/22 gained nearly 0.70%. Currently, there are 4.38B common shares owned by the public and among those 4.28B 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: 35 analysts who have offered their price forecasts for CMCSA have a consensus price objective of $40.25. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $29.00. The average price target is 18.73% above its recent price level and a downside to the estimated low will see the stock lose -18.97% over that period. But an upside of 42.5% will see the stock hit the forecast high price target while median target price for the stock is $39.00.
Insiders at the company have transacted a total of 98 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 2,037,661 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 1,234,462 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 131.69 million shares of the company’s stock, all valued at over $4.18 billion. The company bought an additional 0.35 million shares recently to bring their total holdings to about 3.05% of the shares outstanding. Washington Mutual Investors Fund sold -8.83 million shares to see its total holdings shrink to 101.95 million shares valued at over $3.24 billion and representing 2.36% of the shares outstanding. Vanguard 500 Index Fund bought 0.98 million shares to bring its total holdings to over 100.77 million shares at a value of $3.2 billion. Vanguard 500 Index Fund now owns shares totaling to 2.34% of the shares outstanding.
Shares of Comcast Corporation (NASDAQ: CMCSA) opened at $34.42, up $0.16 from a prior closing price of $34.26. However, the script later moved the day high at 34.91, up 0.70%. The company’s stock has a 5-day price change of 1.41% and -8.29% over the past three months. CMCSA shares are trading -31.45% year to date (YTD), with the 12-month market performance down to -34.63% lower. It has a 12-month low price of $28.39 and touched a high of $53.61 over the same period. CMCSA has an average intraday trading volume of 28.15 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 7.40%, 8.61%, and -13.72% respectively.
Institutional ownership of Comcast Corporation (NASDAQ: CMCSA) shares accounts for 85.70% of the company’s 4.38B shares outstanding. Mutual fund holders own 33.07%, while other institutional holders and individual stakeholders account for 52.28% and 0.84% respectively.
It has a market capitalization of $148.12B and a beta (3y monthly) value of 0.99. The stock’s trailing 12-month PE ratio is 30.03, while the earnings-per-share (ttm) stands at $1.15. The company has a PEG of 3.33 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 1.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.86% over the week and 2.99% over the month.
Analysts forecast that Comcast Corporation (CMCSA) will achieve an EPS of $0.84 for the current quarter, $0.92 for the next quarter and $3.84 for 2023. The lowest estimate earnings-per-share for the quarter is $0.66 while analysts give the company a high EPS estimate of $1.08. Comparatively, EPS for the current quarter was $0.77 a year ago. Earnings per share for the fiscal year are expected to increase by 33.50%, and 4.28% over the next financial year. EPS should shrink at an annualized rate of 9.02% over the next five years, compared to 11.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 35 brokerage firm advisors rate Comcast Corporation (CMCSA) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 13 of the 35 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the CMCSA, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on October 13, 2022, with the firm’s price target at $42-$36. Atlantic Equities coverage for the Comcast Corporation (CMCSA) stock in a research note released on August 15, 2022 offered a Neutral rating with a price target of $44. Redburn was of a view on August 05, 2022 that the stock is Neutral, while Barclays gave the stock Equal Weight rating on August 01, 2022, issuing a price target of $48- $42. Wolfe Research on their part issued Underperform rating on July 29, 2022.