Andra AP fonden Boosts Stake in Comcast Corporation $CMCSA

Key Points

• Andra AP fonden increased its Comcast stake by 695.9% in the second quarter, acquiring 330,700 additional shares for a total holding of 378,218 shares valued at approximately $9.3 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast shares opened at $22.42, near their one-year low, while the company’s latest quarterly results exceeded expectations with $1.04 in earnings per share and $29.94 billion in revenue. Revenue nevertheless declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equating to a 5.9% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.69.

Andra AP fonden increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 695.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 378,218 shares of the cable giant's stock after purchasing an additional 330,700 shares during the quarter. Andra AP fonden's holdings in Comcast were worth $9,285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Security National Bank of Sioux City Iowa IA lifted its holdings in Comcast by 39.4% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 64,290 shares of the cable giant's stock worth $1,578,000 after buying an additional 18,170 shares during the last quarter. Anchor Investment Management LLC increased its position in Comcast by 16.9% in the 2nd quarter. Anchor Investment Management LLC now owns 64,149 shares of the cable giant's stock valued at $1,593,000 after acquiring an additional 9,288 shares during the period. Talon Private Wealth LLC acquired a new stake in Comcast in the second quarter worth about $274,000. Junto Capital Management LP bought a new stake in Comcast during the second quarter worth approximately $40,972,000. Finally, IPG Investment Advisors LLC bought a new position in Comcast during the second quarter valued at about $729,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Trading Down 2.2%

CMCSA stock opened at $22.42 on Wednesday. The firm has a market cap of $79.56 billion, a P/E ratio of 7.26, a P/E/G ratio of 1.64 and a beta of 0.68. The business's 50 day moving average is $25.01 and its 200-day moving average is $25.86. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $32.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Equities analysts anticipate that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CMCSA shares. Wells Fargo & Company set a $23.00 target price on Comcast and gave the stock an "underweight" rating in a research report on Friday, July 24th. Moffett Nathanson lowered their price target on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Citigroup dropped their price objective on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Finally, Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the company a "sector perform" rating in a research note on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $32.69.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.