Silver Rock Financial LP Purchases 154,000 Shares of Comcast Corporation $CMCSA

Key Points

• Silver Rock Financial LP increased its stake in Comcast by 33.7% during the first quarter, now holding 611,500 shares valued at approximately $22.56 million, making Comcast its largest investment.
• Several hedge funds have also significantly adjusted their positions in Comcast, with Permanens Capital L.P. boosting its stake by 95.4%, showing a strong interest in the company's stock.
• Comcast reported earnings of $1.25 per share for the last quarter, surpassing expectations, alongside a quarterly revenue of $30.31 billion, representing a 2.1% increase compared to the previous year.

Silver Rock Financial LP lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 33.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 611,500 shares of the cable giant's stock after buying an additional 154,000 shares during the quarter. Comcast makes up 5.9% of Silver Rock Financial LP's investment portfolio, making the stock its largest position. Silver Rock Financial LP's holdings in Comcast were worth $22,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox grew its holdings in Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after buying an additional 15,115,074 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Comcast by 16.4% in the 4th 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in Comcast by 2.8% in 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 grew its holdings in Comcast by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 26,055,944 shares of the cable giant's stock valued at $977,880,000 after buying an additional 497,829 shares during the period. Finally, Nuveen LLC purchased a new stake in Comcast in the 1st quarter valued at about $940,015,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMCSA shares. Benchmark reiterated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Royal Bank Of Canada started coverage on Comcast in a report on Monday. They set a "sector perform" rating and a $38.00 target price for the company. Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Morgan Stanley decreased their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Finally, Sanford C. Bernstein decreased their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comcast presently has an average rating of "Hold" and an average target price of $40.56.

Comcast Stock Down 0.2%

NASDAQ CMCSA traded down $0.05 on Thursday, reaching $33.43. The company had a trading volume of 13,694,678 shares, compared to its average volume of 23,939,391. The firm has a market capitalization of $123.42 billion, a PE ratio of 5.53, a P/E/G ratio of 2.02 and a beta of 0.93. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The firm has a 50-day moving average of $33.90 and a 200-day moving average of $34.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 EPS. Comcast's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

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 given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is presently 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.