AIA Group Ltd Has $5.65 Million Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• AIA Group Ltd increased its stake in Comcast by 57.8%, owning over 153,000 shares valued at approximately $5.65 million as of the last reporting period.
• Comcast reported strong earnings of $1.25 per share for its last quarter, exceeding analyst expectations of $1.18, and achieving a revenue of $30.31 billion.
• The company declared a quarterly dividend of $0.33 to be paid on October 22nd, representing a yield of 4.2% and a payout ratio of 21.82%.

AIA Group Ltd lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 57.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 153,053 shares of the cable giant's stock after purchasing an additional 56,084 shares during the quarter. AIA Group Ltd's holdings in Comcast were worth $5,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor OS LLC boosted its position in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after buying an additional 8,841 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Comcast in the 1st quarter valued at about $335,000. DAVENPORT & Co LLC grew its stake in Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Comcast by 21.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock valued at $2,834,000 after acquiring an additional 13,678 shares during the last quarter. Finally, American Financial Group Inc. grew its stake in Comcast by 29.0% in the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock valued at $9,852,000 after acquiring an additional 60,000 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on CMCSA shares. Barclays reduced their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. UBS Group reduced their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley cut their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Evercore ISI cut their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Comcast has an average rating of "Hold" and an average price target of $40.73.

Comcast Stock Performance

Shares of CMCSA traded up $0.84 during trading hours on Wednesday, reaching $32.94. 29,733,444 shares of the company's stock traded hands, compared to its average volume of 23,008,912. The firm has a market capitalization of $121.62 billion, a price-to-earnings ratio of 5.44, a P/E/G ratio of 1.93 and a beta of 0.92. 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 Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The business's fifty day simple moving average is $34.41 and its two-hundred day simple moving average is $34.85.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm 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%. Comcast's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Analysts predict that Comcast Corporation will post 4.33 earnings per share for the current 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 paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Comcast's dividend payout ratio (DPR) is currently 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.