Ballentine Partners LLC Increases Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Ballentine Partners LLC increased its holdings in Comcast Corporation by 29.4%, acquiring an additional 11,631 shares in the second quarter, bringing its total ownership to 51,204 shares valued at $1,827,000.
• Comcast's recent earnings report indicated an EPS of $1.25 surpassing estimates and 2.1% revenue growth year-over-year, with predicted earnings of $4.33 for the current year.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 4.2%, payable on October 22nd to shareholders of record on October 1st.

Ballentine Partners LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,204 shares of the cable giant's stock after acquiring an additional 11,631 shares during the quarter. Ballentine Partners LLC's holdings in Comcast were worth $1,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. Nuveen LLC acquired a new stake in Comcast in the 1st quarter valued at about $940,015,000. Dodge & Cox raised its position in Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. raised its position in Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after purchasing an additional 12,586,329 shares in the last quarter. KBC Group NV raised its position in Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Comcast by 119.1% in the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock valued at $280,238,000 after purchasing an additional 4,128,434 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of analyst reports. Loop Capital reduced their price target on Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday. Sanford C. Bernstein cut their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. Rothschild & Co Redburn cut their target price on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Moffett Nathanson raised their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $40.19.

Comcast Trading Down 0.0%

CMCSA opened at $31.61 on Thursday. The firm has a market cap of $116.71 billion, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The business's 50 day moving average is $33.25 and its two-hundred day moving average is $34.38. 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 (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Comcast Company 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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