89,155 Shares in Comcast Corporation $CMCSA Acquired by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors acquired 89,155 Comcast shares during the second quarter, valued at approximately $2.19 million. Institutional investors collectively own 84.32% of CMCSA.
• Comcast reported quarterly EPS of $1.04, beating estimates of $0.97, while revenue reached $29.94 billion, also above expectations; revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33, representing an annualized dividend of $1.32 and a 4.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.96.

Great Lakes Advisors LLC bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 89,155 shares of the cable giant's stock, valued at approximately $2,189,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Allied Private Wealth LLC acquired a new stake in shares of Comcast during the second quarter worth $26,000. Imprint Wealth LLC acquired a new position in Comcast in the 3rd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Comcast during the 4th quarter worth about $27,000. Whipplewood Advisors LLC increased its holdings in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares in the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Comcast in the 1st quarter valued at about $27,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $26.85 on Friday. The firm has a market capitalization of $95.28 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm's fifty day moving average price is $24.08 and its two-hundred day moving average price is $26.80. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. As a group, research analysts anticipate that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 4.9%. Comcast's dividend payout ratio is currently 42.72%.

Analyst Ratings Changes

CMCSA has been the topic of a number of research reports. Scotiabank set a $29.00 price target on Comcast in a report on Friday, July 24th. BNP Paribas Exane dropped their target price on Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 14th. Rosenblatt Securities restated a "buy" rating and issued a $31.00 target price on shares of Comcast in a research note on Friday, July 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Finally, Freedom Capital raised shares of Comcast to a "hold" rating in a research note on Friday, June 12th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.96.

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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