American Century Companies Inc. Purchases 608,202 Shares of Comcast Corporation $CMCSA

Key Points

• American Century Companies Inc. increased its stake in Comcast Corporation by 14.7% during the 1st quarter, acquiring an additional 608,202 shares, bringing their total to approximately 4.74 million shares valued at $174.88 million.
• Comcast's stock is currently trading at $33.45 with a market capitalization of $123.50 billion and a P/E ratio of 5.53.
• The company recently announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 3.9%.

American Century Companies Inc. increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,739,416 shares of the cable giant's stock after purchasing an additional 608,202 shares during the period. American Century Companies Inc. owned approximately 0.13% of Comcast worth $174,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Advisor OS LLC lifted its holdings in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Comcast by 10.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Comcast during the 1st quarter worth approximately $335,000. DAVENPORT & Co LLC lifted its holdings in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, American Financial Group Inc. lifted its holdings in Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after purchasing an additional 60,000 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of Comcast stock traded down $0.5750 during trading on Wednesday, reaching $33.3150. 13,798,169 shares of the company's stock were exchanged, compared to its average volume of 24,284,578. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a market cap of $123.01 billion, a P/E ratio of 5.51, a PEG ratio of 2.01 and a beta of 0.92. The firm's 50-day moving average price is $34.30 and its 200 day moving average price is $34.77.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's payout ratio is 21.82%.

Analysts Set New Price Targets

Several research firms recently weighed in on CMCSA. Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. Bernstein Bank dropped their price objective on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Barclays dropped their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Oppenheimer dropped their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, The Goldman Sachs Group dropped their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.