Northwest & Ethical Investments L.P. Boosts Stake in Comcast Corporation $CMCSA

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Comcast Corporation by 5.6% in Q1, holding 459,858 shares valued at $16.97 million.
• Comcast reported Q2 earnings of $1.25 per share, exceeding estimates, with revenues of $30.31 billion, marking a 2.1% increase from the previous year.
• The company announced a quarterly dividend of $0.33, translating to an annualized dividend of $1.32 and a yield of 3.9%, with a payout ratio of 21.82%.

Northwest & Ethical Investments L.P. boosted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 459,858 shares of the cable giant's stock after acquiring an additional 24,370 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Comcast were worth $16,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Advisor OS LLC raised its stake in Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after acquiring an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after buying an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in Comcast during the 1st quarter worth $335,000. DAVENPORT & Co LLC increased its position in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after buying an additional 1,261,278 shares during the period. Finally, American Financial Group Inc. increased its position in Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after buying an additional 60,000 shares during the period. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CMCSA shares. The Goldman Sachs Group lowered their target price on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Rothschild & Co Redburn dropped their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. New Street Research decreased their price target on Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Evercore ISI dropped 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, UBS Group decreased 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Trading Up 0.9%

Shares of NASDAQ:CMCSA traded up $0.31 during mid-day trading on Thursday, hitting $33.60. The company had a trading volume of 16,157,829 shares, compared to its average volume of 24,272,633. The firm has a fifty day moving average price of $34.26 and a 200 day moving average price of $34.76. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a market capitalization of $124.06 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 2.03 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 (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 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.