Comcast Corporation $CMCSA Stock Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Comcast stake by 177.9% in the third quarter, adding 48,014 shares to hold 75,000 shares worth about $1.63 million.
• Comcast beat quarterly earnings estimates, reporting $1.07 per share versus forecasts of $0.99, while revenue edged past estimates at $29.30 billion but fell 6.1% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equivalent to a 5.6% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $28.77.

International Assets Investment Management LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 177.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,000 shares of the cable giant's stock after purchasing an additional 48,014 shares during the quarter. International Assets Investment Management LLC's holdings in Comcast were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of America Corp DE increased its position in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Comcast by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant's stock worth $845,919,000 after purchasing an additional 507,097 shares during the period. First Trust Advisors LP increased its position in shares of Comcast by 4.9% during the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant's stock worth $390,231,000 after buying an additional 630,902 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock worth $333,509,000 after buying an additional 10,359,800 shares during the period. Finally, Swiss National Bank raised its stake in Comcast by 5.7% during the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant's stock worth $306,227,000 after buying an additional 574,300 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.8%

CMCSA stock opened at $23.67 on Wednesday. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock's 50 day moving average is $23.27 and its 200-day moving average is $26.04. The firm has a market capitalization of $84.05 billion, a PE ratio of 7.49, a P/E/G ratio of 1.68 and a beta of 0.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. During the same period in the prior year, the firm posted $1.12 EPS. Comcast's quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts expect that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.6%. Comcast's dividend payout ratio is presently 41.77%.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $23.00 price target on shares of Comcast in a research report on Tuesday, October 13th. The Goldman Sachs Group reiterated a "neutral" rating and set a $23.00 price target on shares of Comcast in a report on Thursday, October 22nd. Bank of America reissued a "buy" rating and issued a $35.00 price objective (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. Barclays set a $24.00 target price on Comcast and gave the company an "equal weight" rating in a research report on Tuesday, September 29th. Finally, Moffett Nathanson cut their target price on Comcast from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Tuesday, September 22nd. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast has an average rating of "Hold" and an average price target of $28.77.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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