541,541 Shares in Comcast Corporation $CMCSA Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has purchased 541,541 shares of Comcast Corporation, valued at approximately $19.98 million, as revealed in their recent SEC filing.
• A significant increase in institutional ownership has been noted, with 84.32% of Comcast's shares now held by institutional investors, indicating strong confidence in the company.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 3.9% with a payout ratio of 21.82%.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 541,541 shares of the cable giant's stock, valued at approximately $19,983,000.

Several other hedge funds have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in shares of Comcast during the first quarter worth $29,000. Retirement Wealth Solutions LLC grew its stake in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Comcast in the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

CMCSA traded down $0.11 during trading on Thursday, hitting $33.37. The company's stock had a trading volume of 11,379,969 shares, compared to its average volume of 23,931,557. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The firm has a market cap of $123.22 billion, a PE ratio of 5.51, a P/E/G ratio of 2.02 and a beta of 0.93. The business's 50 day simple moving average is $33.90 and its 200-day simple moving average is $34.64.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Analyst Ratings Changes

CMCSA has been the topic of several research analyst reports. Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. Sanford C. Bernstein dropped their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Moffett Nathanson raised their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $40.56.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.