Wright Investors Service Inc. Purchases 11,378 Shares of Comcast Corporation $CMCSA

Key Points

• Wright Investors Service Inc. increased its holdings in Comcast Corporation by 12.4% during the second quarter, owning a total of 103,382 shares valued at approximately $3.69 million.
• Comcast reported earnings of $1.25 EPS for the latest quarter, exceeding analysts' expectations and showing a 2.1% year-over-year revenue growth, totaling $30.31 billion.
• The company declared a quarterly dividend of $0.33 per share, which represents an annualized dividend yield of 4.2% and a payout ratio of 21.82%.

Wright Investors Service Inc. lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,382 shares of the cable giant's stock after purchasing an additional 11,378 shares during the quarter. Comcast comprises 1.1% of Wright Investors Service Inc.'s investment portfolio, making the stock its 25th biggest holding. Wright Investors Service Inc.'s holdings in Comcast were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Inlight Wealth Management LLC bought a new position in Comcast in the 1st quarter valued at about $26,000. Abound Financial LLC bought a new position in Comcast in the 1st quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its position 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 in the last quarter. Finally, Global Wealth Strategies & Associates increased its stake 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 buying an additional 600 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMCSA shares. Rothschild & Co Redburn decreased their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Rosenblatt Securities increased their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Morgan Stanley decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.22.

Comcast Stock Performance

Comcast stock traded up $0.13 during mid-day trading on Tuesday, reaching $31.62. The company's stock had a trading volume of 14,688,878 shares, compared to its average volume of 24,188,340. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The company has a market capitalization of $116.73 billion, a P/E ratio of 5.23, a PEG ratio of 1.89 and a beta of 0.93. 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 firm's fifty day moving average price is $33.37 and its two-hundred day moving average price is $34.41.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

About Comcast

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.