74,875 Shares in Comcast Corporation $CMCSA Acquired by Ruffer LLP

Key Points

• Ruffer LLP acquired 74,875 shares of Comcast Corporation valued at approximately $2.67 million during the second quarter of 2023.
• Comcast recently announced a quarterly dividend of $0.33 per share, indicating a 4.2% dividend yield.
• Analysts have mixed ratings on Comcast, with a consensus rating of "Hold" and a price target averaging $40.19.

Ruffer LLP purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 74,875 shares of the cable giant's stock, valued at approximately $2,672,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Comcast by 458.8% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 301,787 shares of the cable giant's stock valued at $10,771,000 after acquiring an additional 247,781 shares during the period. Sylvest Advisors LLC grew its position in Comcast by 7.1% in the second quarter. Sylvest Advisors LLC now owns 14,145 shares of the cable giant's stock worth $505,000 after acquiring an additional 935 shares in the last quarter. Exeter Financial LLC boosted its position in Comcast by 1.5% during the second quarter. Exeter Financial LLC now owns 71,054 shares of the cable giant's stock valued at $2,536,000 after buying an additional 1,065 shares during the period. LeConte Wealth Management LLC purchased a new stake in Comcast during the second quarter valued at about $205,000. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of Comcast by 4.6% during the second quarter. Palumbo Wealth Management LLC now owns 68,823 shares of the cable giant's stock worth $2,456,000 after purchasing an additional 3,051 shares during the period. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research reports. Royal Bank Of Canada initiated coverage on shares of Comcast in a research note on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price target for the company. The Goldman Sachs Group dropped their target price on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday. Scotiabank raised their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Sanford C. Bernstein reduced their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a report on Wednesday, September 10th. Finally, Loop Capital dropped their price objective on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of "Hold" and a consensus price target of $40.19.

Comcast Stock Down 0.0%

NASDAQ:CMCSA opened at $31.61 on Thursday. The company's fifty day moving average price is $33.25 and its 200-day moving average price is $34.38. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The firm has a market capitalization of $116.71 billion, a P/E ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

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.

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