Alyeska Investment Group L.P. Makes New Investment in Comcast Corporation $CMCSA

Key Points

• Alyeska Investment Group L.P. has acquired over 1 million shares of Comcast Corporation, valued at approximately $38.6 million, in its latest 13F filing.
• The company's latest earnings report showed $1.25 earnings per share, exceeding expectations, alongside a revenue of $30.31 billion for the quarter.
• Comcast has announced a quarterly dividend of $0.33 per share, representing a yield of 3.9%, to be paid to shareholders on October 22nd.

Alyeska Investment Group L.P. bought a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,046,308 shares of the cable giant's stock, valued at approximately $38,609,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox lifted its position in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Comcast by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after purchasing an additional 4,991,891 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Comcast by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after purchasing an additional 926,663 shares during the period. Nuveen Asset Management LLC lifted its position in Comcast by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 26,055,944 shares of the cable giant's stock worth $977,880,000 after purchasing an additional 497,829 shares during the period. Finally, Nuveen LLC acquired a new stake in Comcast in the first quarter worth approximately $940,015,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $33.89 on Thursday. The company's fifty day moving average is $34.08 and its two-hundred day moving average is $34.72. 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 12-month low of $31.03 and a 12-month high of $45.31. The company has a market cap of $125.13 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the business earned $1.21 EPS. The company's revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Scotiabank increased their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Benchmark reiterated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Finally, Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $40.73.

About Comcast

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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