ARGA Investment Management LP Makes New Investment in Comcast Corporation $CMCSA

Key Points

• ARGA Investment Management LP has made a new investment in Comcast Corporation by purchasing 39,313 shares valued at approximately $1.4 million during the second quarter.
• A total of 84.32% of Comcast's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Wall Street analysts have mixed ratings on Comcast, with a consensus rating of "Hold" and a price target averaging $39.76.

ARGA Investment Management LP purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,313 shares of the cable giant's stock, valued at approximately $1,403,000.

A number of other hedge funds also recently made changes to their positions in CMCSA. Foster Group Inc. increased its holdings in Comcast by 4.0% in the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant's stock worth $265,000 after purchasing an additional 282 shares in the last quarter. Argyle Capital Management LLC boosted its stake in Comcast by 0.5% during the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant's stock worth $2,184,000 after acquiring an additional 300 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Comcast by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after buying an additional 305 shares during the period. Webster Bank N. A. increased its holdings in shares of Comcast by 2.9% during the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant's stock valued at $386,000 after acquiring an additional 305 shares in the last quarter. Finally, United Asset Strategies Inc. lifted its stake in shares of Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after buying an additional 308 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. Rosenblatt Securities decreased their price target on Comcast from $38.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, October 17th. Morgan Stanley set a $35.00 price objective on Comcast and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Scotiabank reaffirmed a "sector perform" rating and set a $45.50 price objective (up from $45.00) on shares of Comcast in a report on Monday, October 6th. Finally, Bank of America lowered their target price on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Comcast has an average rating of "Hold" and a consensus price target of $39.76.

Comcast Stock Down 0.3%

Comcast stock opened at $29.30 on Friday. The firm has a 50 day moving average price of $32.01 and a 200-day moving average price of $33.55. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $29.15 and a twelve month high of $45.31. The company has a market capitalization of $108.18 billion, a P/E ratio of 4.84, a P/E/G ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.34 billion for the quarter. As a group, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Profile

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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