Comcast Corporation $CMCSA Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its Comcast stake by 1.8% in the first quarter, adding 507,097 shares and bringing its total holding to 29.46 million shares valued at about $845.9 million.
• Institutional ownership remains heavy, with hedge funds and other institutions owning 84.32% of Comcast. Other major holders like Vanguard, State Street, and Capital World Investors also boosted their positions.
• Comcast reported stronger-than-expected quarterly results, with EPS of $0.79 and revenue of $31.46 billion, while also announcing a quarterly dividend of $0.33 per share for a 5.5% annualized yield.

Dimensional Fund Advisors LP lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,461,308 shares of the cable giant's stock after purchasing an additional 507,097 shares during the quarter. Dimensional Fund Advisors LP owned about 0.82% of Comcast worth $845,919,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. State Street Corp grew its holdings in shares of Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares during the period. Capital World Investors increased its stake in Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Dodge & Cox increased its stake in Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock valued at $3,376,599,000 after purchasing an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMCSA shares. Citigroup lowered their target price on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Morgan Stanley cut their price target on Comcast from $33.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 7th. Moffett Nathanson decreased their price objective on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. BNP Paribas Exane lowered their price objective on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Comcast from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.64.

Comcast Stock Performance

Shares of Comcast stock opened at $23.79 on Monday. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.01. The business's fifty day moving average is $24.00 and its two-hundred day moving average is $27.48. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a market cap of $84.98 billion, a PE ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Comcast Corporation will post 3.48 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast's dividend payout ratio is 25.98%.

Comcast Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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