ARGA Investment Management LP Buys 1,349,909 Shares of Comcast Corporation $CMCSA

Key Points

• ARGA Investment Management LP massively increased its Comcast stake in Q1, buying 1,349,909 shares and lifting its position by 19,080% to 1,356,984 shares worth about $39 million.
• Comcast recently reported better-than-expected quarterly results, with EPS of $0.79 versus estimates of $0.73 and revenue of $31.46 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $0.33 per share, implying a 5.6% annualized yield, while analysts currently have a consensus Hold rating and a $34.04 price target.

ARGA Investment Management LP grew its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19,080.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,356,984 shares of the cable giant's stock after buying an additional 1,349,909 shares during the period. Comcast makes up approximately 1.3% of ARGA Investment Management LP's holdings, making the stock its 19th biggest position. ARGA Investment Management LP's holdings in Comcast were worth $38,959,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the last quarter. State Street Corp grew its stake in Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock valued at $5,583,604,000 after buying an additional 6,117,946 shares during the last quarter. Capital World Investors grew its stake in Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after buying an additional 24,166,881 shares during the last quarter. Dodge & Cox raised its holdings in Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock worth $3,376,599,000 after acquiring an additional 399,596 shares during the period. Finally, Geode Capital Management LLC lifted its position in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after acquiring an additional 1,465,428 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CMCSA shares. Evercore upped their price target on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, April 24th. UBS Group reissued a "neutral" rating on shares of Comcast in a research report on Tuesday, June 23rd. Royal Bank Of Canada increased their target price on Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Comcast in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and dropped their price target for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $34.04.

Comcast Stock Performance

NASDAQ CMCSA opened at $23.57 on Friday. The company's fifty day moving average is $24.27 and its two-hundred day moving average is $27.70. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $84.20 billion, a price-to-earnings ratio of 4.64, a P/E/G ratio of 1.92 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.6%. Comcast's dividend payout ratio is 25.98%.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

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.