Comcast Corporation $CMCSA Shares Acquired by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC increased its stake in Comcast by 11.7%, owning 1,095,934 shares now valued at approximately $40.4 million.
• Comcast reported a quarterly earnings per share (EPS) of $1.25, exceeding analysts' expectations of $1.18, alongside a revenue of $30.31 billion.
• The company announced a quarterly dividend of $0.33 to be paid on October 22nd, offering an annualized yield of 3.9%.

EP Wealth Advisors LLC grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,095,934 shares of the cable giant's stock after buying an additional 114,678 shares during the quarter. EP Wealth Advisors LLC's holdings in Comcast were worth $40,440,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CMCSA. Dodge & Cox raised its position in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Comcast by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock valued at $1,326,912,000 after buying an additional 4,991,891 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comcast by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock valued at $1,240,955,000 after buying an additional 926,663 shares during the period. Nuveen Asset Management LLC lifted its position in Comcast by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 26,055,944 shares of the cable giant's stock worth $977,880,000 after acquiring an additional 497,829 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Comcast in the 1st quarter worth approximately $940,015,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.1%

NASDAQ CMCSA traded down $0.04 on Friday, hitting $33.91. 21,111,306 shares of the stock traded hands, compared to its average volume of 19,302,668. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $34.03 and a 200 day moving average of $34.69. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a market capitalization of $125.20 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

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 the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. As a group, analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Benchmark reiterated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Rothschild & Co Redburn dropped their target price on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.73.

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.