Swedbank AB Increases Holdings in Comcast Corporation $CMCSA

Key Points

• Swedbank AB increased its stake in Comcast Corporation by 8.4% in the 2nd quarter, owning over 2.28 million shares valued at approximately $81.6 million.
• Several hedge funds have recently increased their holdings in Comcast, with Two Sigma Advisers LP boosting its stake by 733.9%.
• Comcast has reported a quarterly earnings per share (EPS) of $1.25, exceeding analyst expectations and reflecting a 2.1% increase in revenue year-over-year.

Swedbank AB raised its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,286,242 shares of the cable giant's stock after purchasing an additional 177,022 shares during the quarter. Swedbank AB owned 0.06% of Comcast worth $81,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sculati Wealth Management LLC grew its position in shares of Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after purchasing an additional 285 shares during the period. Toth Financial Advisory Corp increased its position in shares of Comcast by 9.0% during the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after purchasing an additional 300 shares during the last quarter. Clearstead Trust LLC increased its position in shares of Comcast by 5.2% during the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after purchasing an additional 305 shares during the last quarter. Webster Bank N. A. increased its holdings in shares of Comcast by 2.9% during the 2nd quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant's stock worth $386,000 after acquiring an additional 305 shares during the last quarter. Finally, United Asset Strategies Inc. boosted its stake in Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after purchasing an additional 308 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CMCSA shares. Moffett Nathanson upped their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Barclays decreased their target price 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. Rothschild & Co Redburn dropped their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, Arete Research upgraded Comcast to a "hold" rating in a research report on Tuesday, July 8th. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $40.56.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.05 during midday trading on Friday, hitting $31.59. 53,783,241 shares of the stock traded hands, compared to its average volume of 20,704,542. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The firm has a 50-day moving average of $33.45 and a two-hundred day moving average of $34.47. The firm has a market capitalization of $116.64 billion, a P/E ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted 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. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

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 given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast's dividend payout ratio (DPR) 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.