Scotiabank Boosts Comcast’s Outlook Amid Shifting Fund Sentiment
Fintel reports that on November 1, 2024, Scotiabank upgraded their outlook for Comcast (SNSE:CMCSA) from Sector Perform to Sector Outperform.
Investor Activity and Fund Sentiment
As of now, 3,710 funds or institutions have reported their positions in Comcast. This is a drop of 90 funds, or 2.37%, compared to the last quarter. The average portfolio weight for all funds in CMCSA is 0.57%, reflecting an increase of 2.95%. Over the last three months, total shares held by institutions decreased by 0.96%, totaling 3,892,306K shares.
Capital World Investors owns 128,148K shares, which translates to 3.32% ownership of the company. Previously, they reported 115,703K shares, marking a 9.71% increase. However, their portfolio allocation in CMCSA was reduced by 1.43% this past quarter.
The Vanguard Total Stock Market Index Fund Investor Shares holds 123,606K shares, equating to 3.20% ownership. In their last filing, they reported owning 124,518K shares, indicating a 0.74% decline. The firm also decreased its allocation in CMCSA by 12.80% over the last quarter.
Similarly, the Vanguard 500 Index Fund Investor Shares holds 100,460K shares, representing 2.60% ownership. Previously, they had 99,846K shares, which shows an increase of 0.61%. Like other firms, they reduced their allocation in CMCSA by 13.96% during the last quarter.
JPMorgan Chase reported holding 86,410K shares, about 2.24% ownership of Comcast. Their previous filing showed 97,397K shares, which is a 12.71% drop. They also made significant adjustments, decreasing their allocation by 22.17% over the past quarter.
Geode Capital Management holds 85,791K shares, making up 2.22% of the company. In their last report, they had 83,684K shares, reflecting a 2.46% increase. However, their portfolio allocation in CMCSA was still reduced by 12.13% this past quarter.
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This story originally appeared on Fintel.
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