Comcast Corporation $CMCSA Shares Acquired by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its holdings in Comcast Corporation by 13.1%, owning a total of 924,625 shares valued at $33 million after additional purchases in Q2.
• Comcast's latest earnings report showed $1.25 earnings per share, exceeding estimates, while revenue reached $30.31 billion, reflecting a 2.1% year-over-year increase.
• The company has declared a quarterly dividend of $0.33 per share with a 4.1% yield, to be paid on October 22, 2023.

Exchange Traded Concepts LLC grew its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 924,625 shares of the cable giant's stock after buying an additional 106,956 shares during the quarter. Exchange Traded Concepts LLC's holdings in Comcast were worth $33,000,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the 1st quarter worth about $26,000. Abound Financial LLC bought a new stake in Comcast during the 1st quarter worth about $29,000. Ransom Advisory Ltd bought a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC grew its holdings in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in Comcast during the 4th quarter worth about $33,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.2%

NASDAQ:CMCSA traded down $0.05 during trading hours on Friday, hitting $31.59. 53,783,241 shares of the company traded hands, compared to its average volume of 20,704,542. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm's 50-day simple moving average is $33.45 and its 200-day simple moving average is $34.47. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a market cap of $116.64 billion, a PE ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. Equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast's payout ratio is presently 21.82%.

Analysts Set New Price Targets

CMCSA has been the topic of several recent research reports. Scotiabank raised their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Barclays cut their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Rosenblatt Securities increased their price target on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Moffett Nathanson raised their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of "Hold" and an average target price of $40.56.

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.