Cheviot Value Management LLC Grows Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Cheviot Value Management LLC increased its holdings in Comcast Corporation by 69.6%, purchasing an additional 192,900 shares in the first quarter, bringing its total to 470,207 shares.
• Comcast's recent earnings results showed an EPS of $1.25, exceeding analyst estimates of $1.18, and the company reported a revenue of $30.31 billion for the quarter.
• The company announced a quarterly dividend of $0.33, set to be paid on October 22nd, representing an annual yield of 4.1%.

Cheviot Value Management LLC lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 69.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,207 shares of the cable giant's stock after buying an additional 192,900 shares during the period. Comcast comprises 2.0% of Cheviot Value Management LLC's holdings, making the stock its 15th largest holding. Cheviot Value Management LLC's holdings in Comcast were worth $16,199,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after acquiring an additional 12,586,329 shares in the last quarter. Capital World Investors raised its holdings in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after buying an additional 11,255,683 shares during the last quarter. KBC Group NV raised its stake in shares of Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after buying an additional 5,402,377 shares during the period. Finally, Dodge & Cox raised its position in Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after buying an additional 5,039,823 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Comcast stock traded down $0.01 during midday trading on Tuesday, hitting $32.55. The company's stock had a trading volume of 4,429,048 shares, compared to its average volume of 24,421,094. The stock's 50-day moving average price is $34.76 and its 200-day moving average price is $35.07. The company has a market capitalization of $121.52 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. 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 (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast's payout ratio is 21.82%.

Analysts Set New Price Targets

Several analysts recently commented on CMCSA shares. Citigroup dropped their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Barclays lowered their target price 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. Morgan Stanley reduced their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday. Evercore ISI decreased their price target on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Rothschild & Co Redburn lowered their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and an average target price of $40.73.

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.