American Assets Investment Management LLC Purchases 20,000 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• American Assets Investment Management LLC increased its stake in Comcast Corporation by 50%, purchasing an additional 20,000 shares during the first quarter, thus raising its total holdings to 60,000 shares worth approximately $2.21 million.
• Comcast's latest quarterly earnings report revealed an EPS of $1.25, exceeding analyst expectations of $1.18, and a revenue of $30.31 billion—up 2.1% year-over-year.
• The company recently announced a quarterly dividend of $0.33, leading to an annualized dividend yield of 4.1%, with a current payout ratio of 21.82%.

American Assets Investment Management LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 50.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the cable giant's stock after buying an additional 20,000 shares during the quarter. American Assets Investment Management LLC's holdings in Comcast were worth $2,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Comcast by 150.9% during 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. Invesco Ltd. lifted its holdings in Comcast by 11.5% in the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after buying an additional 4,669,069 shares during the period. Twin Capital Management Inc. lifted its holdings in Comcast by 1.6% in the fourth quarter. Twin Capital Management Inc. now owns 134,512 shares of the cable giant's stock worth $5,048,000 after buying an additional 2,156 shares during the period. Canopy Partners LLC purchased a new stake in Comcast in the fourth quarter worth about $206,000. Finally, FIL Ltd lifted its holdings in Comcast by 5.4% in the fourth quarter. FIL Ltd now owns 556,273 shares of the cable giant's stock worth $20,877,000 after buying an additional 28,527 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 1.1%

Shares of NASDAQ:CMCSA traded down $0.35 during midday trading on Wednesday, reaching $32.16. The company had a trading volume of 21,557,651 shares, compared to its average volume of 21,987,228. The stock has a market capitalization of $120.08 billion, a P/E ratio of 5.32, a PEG ratio of 1.95 and a beta of 0.92. The stock's fifty day moving average price is $34.71 and its 200-day moving average price is $35.05. 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 Corporation has a one year low of $31.44 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.1%. Comcast's payout ratio is 21.82%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMCSA shares. Wells Fargo & Company downgraded shares of Comcast from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas downgraded shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target for the company. in a research report on Thursday, April 10th. Bernstein Bank reduced their price target on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Rothschild & Co Redburn reduced their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Moffett Nathanson raised their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.73.

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.