CCM Investment Group LLC Acquires Shares of 176,211 Comcast Corporation (NASDAQ:CMCSA)

Key Points

• CCM Investment Group LLC has acquired a new stake in Comcast Corporation worth approximately $6.45 million, totaling 176,211 shares, which makes it the firm's 18th largest position.
• Comcast recently reported earnings that exceeded analysts' expectations, with an EPS of $1.25 and revenue of $30.31 billion, representing a 2.1% year-over-year increase.
• The company declared a quarterly dividend of $0.33, which translates to an annualized yield of 4.2%, with the payment date set for October 22nd.

CCM Investment Group LLC acquired a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 176,211 shares of the cable giant's stock, valued at approximately $6,453,000. Comcast accounts for about 0.7% of CCM Investment Group LLC's investment portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Inlight Wealth Management LLC bought a new stake in Comcast in the 1st quarter valued at $26,000. Abound Financial LLC bought a new stake in Comcast in the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC increased its holdings in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 2.6%

CMCSA traded up $0.84 during trading on Wednesday, hitting $32.94. The stock had a trading volume of 29,664,919 shares, compared to its average volume of 24,484,240. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The stock has a 50 day simple moving average of $34.44 and a two-hundred day simple moving average of $34.86. 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 capitalization of $121.62 billion, a PE ratio of 5.44, a PEG ratio of 1.89 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS 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 business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bernstein Bank reduced their target price on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Benchmark restated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Evercore ISI reduced their target price on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, UBS Group reduced their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and an average price target of $40.73.

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.