Comcast Corporation $CMCSA Shares Purchased by Bislett Management LLC

Key Points

• Bislett Management LLC has increased its stake in Comcast Corporation by 14.3%, holding a total of $8.86 million in shares, making it the fifth largest position in their investment portfolio.
• Comcast's quarterly earnings reported a net margin of 18.44% and a revenue increase of 2.1% year-over-year, beating consensus estimates with an EPS of $1.25.
• The company has announced a quarterly dividend of $0.33 per share, translating to a 4.0% dividend yield, with the payment set for October 22nd.

Bislett Management LLC raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 14.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,000 shares of the cable giant's stock after acquiring an additional 30,000 shares during the period. Comcast makes up about 6.3% of Bislett Management LLC's investment portfolio, making the stock its 5th largest position. Bislett Management LLC's holdings in Comcast were worth $8,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new position in Comcast during the 1st quarter valued at about $26,000. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC boosted its position in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Up 1.6%

Comcast stock traded up $0.55 during midday trading on Friday, hitting $34.15. 25,267,336 shares of the company's stock were exchanged, compared to its average volume of 24,360,090. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $126.09 billion, a PE ratio of 5.64, a P/E/G ratio of 2.05 and a beta of 0.92. The firm has a 50-day moving average of $34.21 and a two-hundred day moving average of $34.77. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The company's revenue was up 2.1% compared to the same quarter last year. As a group, analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal 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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent analyst reports. Rosenblatt Securities boosted their price objective on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Scotiabank upped their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Finally, Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.73.

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.