Hotchkis & Wiley Capital Management LLC Acquires 3,693,980 Shares of Comcast Corporation $CMCSA

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Comcast Corporation by 23.1%, acquiring an additional 3,693,980 shares, bringing their total ownership to nearly 19.7 million shares.
• Comcast's latest quarterly earnings report showed an EPS of $1.25, surpassing estimates by $0.07, and revenue of $30.31 billion, above the expected $29.81 billion.
• The company announced a quarterly dividend of $0.33 per share, resulting in a 3.9% dividend yield, to be paid on October 22nd, indicating stable returns for investors.

Hotchkis & Wiley Capital Management LLC increased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,653,569 shares of the cable giant's stock after buying an additional 3,693,980 shares during the period. Comcast accounts for approximately 2.4% of Hotchkis & Wiley Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. Hotchkis & Wiley Capital Management LLC owned about 0.53% of Comcast worth $725,217,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC acquired a new position in Comcast during the 1st quarter valued at about $26,000. Abound Financial LLC purchased a new stake in Comcast during the first quarter valued at about $29,000. Retirement Wealth Solutions LLC raised its position in 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 purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMCSA. Rothschild & Co Redburn cut their price objective on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Rosenblatt Securities raised their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. UBS Group decreased their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Finally, Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $40.73.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.14 during trading on Monday, reaching $34.01. The company's stock had a trading volume of 17,147,074 shares, compared to its average volume of 23,977,274. The firm has a market cap of $125.57 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 2.05 and a beta of 0.92. The business's fifty day moving average price is $34.19 and its 200-day moving average price is $34.77. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31.

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

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

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.