Comcast Corporation $CMCSA Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Comcast Corporation by 3.8%, owning a total of 1,590,306 shares valued at approximately $56.76 million after acquiring an additional 58,300 shares in Q2.
• Comcast's recently declared quarterly dividend is $0.33 per share, resulting in a yield of 4.2%, with a payout ratio currently at 21.82%.
• Analysts rate Comcast with an average consensus of Hold and a target price of $40.06, reflecting a range of opinions with one Strong Buy, twelve Buy, fourteen Hold, and three Sell ratings.

KLP Kapitalforvaltning AS increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,590,306 shares of the cable giant's stock after purchasing an additional 58,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Comcast were worth $56,758,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new stake in Comcast during the first quarter worth approximately $26,000. Cranbrook Wealth Management LLC raised its stake in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC lifted its holdings in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares in the last quarter. Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth $29,000. Finally, Ransom Advisory Ltd purchased a new stake in Comcast during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities raised their price objective on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Morgan Stanley lowered their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. UBS Group set a $43.00 target price on Comcast in a report on Friday. Citigroup reissued a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein lowered their price objective on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.06.

Comcast Trading Up 0.6%

Shares of CMCSA opened at $31.09 on Tuesday. Comcast Corporation has a one year low of $30.38 and a one year high of $45.31. The stock has a 50-day moving average price of $32.68 and a 200 day moving average price of $34.09. 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 $114.79 billion, a P/E ratio of 5.14, a P/E/G ratio of 1.81 and a beta of 0.94.

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

Comcast Dividend Announcement

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

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