555,067 Shares in Comcast Corporation $CMCSA Purchased by Torray Investment Partners LLC

Key Points

• Torray Investment Partners opened a new position in Comcast, buying 555,067 shares worth about $15.9 million in the first quarter. Comcast now represents about 2.3% of the firm’s holdings.
• Other institutions also adjusted their stakes, and overall 84.32% of Comcast stock is owned by institutional investors. Several firms increased positions, showing continued institutional interest in the name.
• Comcast’s stock was trading around $23.57, while analysts currently have a Hold consensus with a target price of $34.04. The company also announced a quarterly dividend of $0.33 per share, equal to a 5.6% yield.

Torray Investment Partners LLC bought a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 555,067 shares of the cable giant's stock, valued at approximately $15,936,000. Comcast makes up about 2.3% of Torray Investment Partners LLC's holdings, making the stock its 20th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the period. Voya Financial Advisors Inc. increased its stake in Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank increased its position in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC raised its stake in shares of Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after purchasing an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC raised its position in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after buying an additional 15,865 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMCSA has been the topic of several analyst reports. BNP Paribas Exane cut their price target on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group decreased their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Citigroup reduced their price target on Comcast from $35.50 to $32.00 and set a "buy" rating for the company in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a "hold" rating to a "buy" rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company dropped their price target on Comcast from $29.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.04.

Comcast Trading Up 1.0%

Shares of Comcast stock traded up $0.23 on Friday, hitting $23.57. The stock had a trading volume of 25,483,585 shares, compared to its average volume of 40,679,600. The stock has a 50 day moving average of $24.27 and a 200 day moving average of $27.70. The firm has a market capitalization of $84.20 billion, a P/E ratio of 4.64, a PEG ratio of 1.92 and a beta of 0.67. Comcast Corporation has a twelve month low of $22.13 and a twelve month high of $36.01. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. Sell-side analysts expect that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. Comcast's payout ratio is 25.98%.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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