Comcast Corporation $CMCSA Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Comcast Corporation by 13.0%, owning a total of 724,760 shares valued at approximately $25.87 million.
• In its latest earnings report, Comcast beat estimates with $1.25 EPS and revenue of $30.31 billion, marking a 2.1% increase compared to the same quarter last year.
• Comcast recently declared a quarterly dividend of $0.33, providing an annualized dividend yield of 4.3% with a payout ratio of 21.82%.

QRG Capital Management Inc. lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,760 shares of the cable giant's stock after purchasing an additional 83,631 shares during the quarter. QRG Capital Management Inc.'s holdings in Comcast were worth $25,867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CMCSA. Foster Group Inc. lifted its position in Comcast by 4.0% during the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant's stock worth $265,000 after acquiring an additional 282 shares during the period. Toth Financial Advisory Corp increased its holdings in Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after buying an additional 300 shares during the period. Clearstead Trust LLC increased its holdings in Comcast by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after buying an additional 305 shares during the period. Webster Bank N. A. increased its holdings in Comcast by 2.9% in the 2nd quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant's stock worth $386,000 after buying an additional 305 shares during the period. Finally, United Asset Strategies Inc. increased its holdings in Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock worth $519,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

Shares of Comcast stock opened at $30.90 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $30.38 and a twelve month high of $45.31. The business has a 50-day moving average price of $32.73 and a 200 day moving average price of $34.16. The firm has a market cap of $114.09 billion, a PE ratio of 5.11, a P/E/G ratio of 1.78 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly 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. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the previous year, the business earned $1.21 EPS. Comcast's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. UBS Group set a $43.00 price objective on Comcast in a research note on Friday. Scotiabank lifted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Loop Capital reduced their price objective on Comcast from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Barclays reduced their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, Comcast currently has an average rating of "Hold" and an average price target of $40.26.

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.

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