ARGA Investment Management LP Buys New Position in Comcast Corporation $CMCSA

ARGA Investment Management LP purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,085,623 shares of the cable giant's stock, valued at approximately $23,623,000. Comcast makes up approximately 0.6% of ARGA Investment Management LP's investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Comcast by 824.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after purchasing an additional 10,359,800 shares in the last quarter. Nykredit A S purchased a new stake in shares of Comcast during the second quarter valued at approximately $185,237,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Comcast during the third quarter valued at approximately $135,207,000. Cullen Capital Management LLC purchased a new stake in shares of Comcast during the second quarter valued at approximately $129,801,000. Finally, Bank of America Corp DE increased its position in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock valued at $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CMCSA shares. Citigroup decreased their price objective on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday, September 24th. KeyCorp downgraded Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 target price on the stock. in a report on Thursday, September 24th. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the stock an "underweight" rating in a research note on Friday, July 24th. Sanford C. Bernstein reiterated a "market perform" rating and set a $23.00 price objective on shares of Comcast in a research note on Tuesday, October 13th. Finally, BNP Paribas Exane cut their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.77.

Comcast Price Performance

Shares of Comcast stock opened at $23.67 on Wednesday. The stock has a market cap of $84.05 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $23.27 and a 200-day moving average price of $26.04. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The business had revenue of $29.30 billion for the quarter, compared to analysts' expectations of $29.22 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business's revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Wednesday, January 6th. Comcast's dividend payout ratio (DPR) is 41.77%.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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