Tocqueville Asset Management L.P. Increases Stake in Comcast Co.

Tocqueville Asset Management L.P. has recently increased its investment in Comcast Co. (NASDAQ:CMCSA) by 2.5% during the fourth quarter of the year, as reported in its latest filing with the SEC. After acquiring an additional 9,662 shares, the institutional investor now holds a total of 402,561 shares in the cable giant, with a valuation of approximately $15.11 million at the end of the reporting period.

In addition to Tocqueville's actions, other major investment firms have also adjusted their positions in Comcast. For instance, FMR LLC upped its stake by 5.4% in the third quarter, bringing its total to 117,420,328 shares valued at around $4.90 billion. First Eagle Investment Management LLC also increased its holdings by 7.1% during the fourth quarter, now possessing 34,101,077 shares worth roughly $1.28 billion. Similarly, Charles Schwab Investment Management Inc. added 2.6% more shares to reach 32,709,601, valued at approximately $1.23 billion.

Moreover, UBS Asset Management’s distinct unit recorded a 6.0% growth in its position, owning 30,364,136 shares worth about $1.27 billion after acquiring an extra 1,717,762 shares. Amundi also significantly increased its stake by 147.9% in the same period, bringing its total to 24,086,671 shares valued at around $895 million. Currently, institutional investors hold about 84.32% of Comcast's stock, which indicates strong interest in the company.

Comcast's Market Performance

As of Tuesday, shares of NASDAQ:CMCSA opened at $35.75. Comcast boasts a market capitalization of $135.17 billion, with a price-to-earnings (PE) ratio of 8.61 and a price-to-earnings growth (PEG) ratio of 1.78. The company’s one-year trading range saw a low of $32.50 and a high of $45.31. Presently, Comcast's 50-day moving average stands at $35.88, while its 200-day moving average is at $39.16.

Recent Earnings and Dividend Announcements

Comcast reported its quarterly earnings on January 30, achieving $0.96 earnings per share, which surpasses analysts' expectations of $0.88 by $0.08. The company demonstrated a net margin of 13.09% and a return on equity of 19.98%. Analysts forecast Comcast to have earnings of 4.33 per share for the current year.

In addition, Comcast recently announced a quarterly dividend of $0.33, payable on April 23, to investors on record by April 2. This new dividend reflects a modest increase from the previous quarterly dividend of $0.31, resulting in an annual yield of about 3.69% with a payout ratio of 31.81%.

Analyst Recommendations and Ratings Changes

A number of analysts have recently offered updates on Comcast stock. For example, Rosenblatt Securities has reduced its price target from $45.00 to $36.00, recommending a "neutral" rating. Scotiabank downgraded its assessment from "outperform" to "perform," lowering its target from $48.00 to $44.50. Barclays has also decreased its price objective from $42.00 to $37.00, maintaining an "equal weight" rating. The Goldman Sachs Group revised its target price down from $50.00 to $44.00 and affirmed a "buy" rating.

Conversely, Seaport Res Ptn upgraded Comcast from a "hold" to a "strong-buy" rating. At present, nine analysts recommend a hold rating, nine suggest buying, and three offer a strong buy rating. According to MarketBeat.com data, Comcast maintains a consensus rating of "Moderate Buy" with an average target price of $43.83.

Overview of Comcast Corporation

Comcast Corporation serves as a media and technology firm globally. Its operations are divided into several segments, including Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks. The Residential Connectivity & Platforms division provides services in residential broadband, wireless connectivity, video services, entertainment networks, and advertising.

Comcast, Stock, Investment