American Financial Group Inc. Increases Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• American Financial Group Inc. increased its stake in Comcast Corporation by 29.0%, owning 267,000 shares valued at approximately $9.85 million, making it the 6th largest position in their portfolio.
• Several hedge funds have also raised their positions in Comcast, with DAVENPORT & Co LLC growing its holdings by 41.7% to over 4.28 million shares.
• Comcast recently declared a quarterly dividend of $0.33, resulting in an annual yield of 4.06%, with a payout ratio of 32.43%.

American Financial Group Inc. raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,000 shares of the cable giant's stock after acquiring an additional 60,000 shares during the period. Comcast makes up 4.2% of American Financial Group Inc.'s holdings, making the stock its 6th largest position. American Financial Group Inc.'s holdings in Comcast were worth $9,852,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Advisor OS LLC increased its position in shares of Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the period. OMNI 360 Wealth Inc. acquired a new position in shares of Comcast in the 1st quarter worth $335,000. Aviva PLC grew its holdings in shares of Comcast by 7.2% in the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock worth $87,359,000 after acquiring an additional 156,986 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Comcast by 21.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock worth $2,834,000 after acquiring an additional 13,678 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their price target on Comcast from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Oppenheimer lowered their price target on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Bernstein Bank lowered their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group lowered their target price on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, KeyCorp lowered their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $41.13.

Comcast Trading Down 1.0%

Shares of NASDAQ:CMCSA opened at $32.50 on Thursday. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The stock has a market cap of $121.35 billion, a PE ratio of 7.99, a P/E/G ratio of 1.59 and a beta of 0.95. The business has a 50 day moving average of $34.86 and a 200-day moving average of $35.16. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is currently 32.43%.

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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