Charles Schwab Investment Management Inc. Purchases 926,663 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Comcast Corporation by 2.8%, acquiring an additional 926,663 shares to own a total of 33,636,264 shares valued at approximately $1.24 billion.
• Comcast recently declared a quarterly dividend of $0.33, translating to an annualized dividend yield of 4.1% with a payout ratio of 21.82%.
• Research analysts have a consensus rating of "Hold" on Comcast stock, with the average price target set at $40.73 after several adjustments from various financial institutions.

Charles Schwab Investment Management Inc. raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,636,264 shares of the cable giant's stock after acquiring an additional 926,663 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.90% of Comcast worth $1,240,955,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CMCSA. Brighton Jones LLC boosted its holdings in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. FIL Ltd boosted its holdings in Comcast by 5.4% in the fourth quarter. FIL Ltd now owns 556,273 shares of the cable giant's stock valued at $20,877,000 after acquiring an additional 28,527 shares during the last quarter. Advisory Services Network LLC increased its position in Comcast by 25.2% during the 4th quarter. Advisory Services Network LLC now owns 72,912 shares of the cable giant's stock valued at $2,736,000 after purchasing an additional 14,671 shares during the period. Bessemer Group Inc. raised its stake in Comcast by 31.4% during the fourth quarter. Bessemer Group Inc. now owns 2,520,213 shares of the cable giant's stock worth $94,584,000 after buying an additional 601,657 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its position in Comcast by 9.0% during the fourth quarter. Phoenix Financial Ltd. now owns 45,442 shares of the cable giant's stock valued at $1,706,000 after acquiring an additional 3,771 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CMCSA shares. Barclays reduced their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. New Street Research cut their price target on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Finally, Scotiabank increased their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Price Performance

Shares of NASDAQ CMCSA remained flat at $31.67 during trading hours on Friday. The company had a trading volume of 16,091,644 shares, compared to its average volume of 22,820,288. The business's 50-day moving average is $34.55 and its 200-day moving average is $34.96. The stock has a market cap of $116.93 billion, a P/E ratio of 5.23, a P/E/G ratio of 1.90 and a beta of 0.92. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter last year, the company earned $1.21 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's payout ratio is presently 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.