Comcast Corporation (NASDAQ:CMCSA) Shares Bought by Weitz Investment Management Inc.

Key Points

• Weitz Investment Management Inc. significantly increased its stake in Comcast, buying an additional 356,500 shares, which raised its total ownership by 375.3% in the first quarter, valuing the investment at $16.66 million.
• The stock currently holds a consensus rating of "Hold" with a target price of $40.77, as analysts have mixed views with three sell ratings, eleven holds, and twelve buy ratings.
• Comcast declared a quarterly dividend of $0.33 payable on October 22, 2023, representing an annual yield of 4.1% and a payout ratio of 21.82%.

Weitz Investment Management Inc. lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 375.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,500 shares of the cable giant's stock after purchasing an additional 356,500 shares during the quarter. Weitz Investment Management Inc.'s holdings in Comcast were worth $16,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sculati Wealth Management LLC raised its stake in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after purchasing an additional 285 shares in the last quarter. Beck Mack & Oliver LLC raised its position in Comcast by 2.0% in the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after acquiring an additional 300 shares in the last quarter. Toth Financial Advisory Corp raised its position in Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after acquiring an additional 300 shares in the last quarter. Clearstead Trust LLC raised its position in Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after acquiring an additional 305 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in Comcast by 0.6% in the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after acquiring an additional 310 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CMCSA has been the topic of several research reports. Benchmark reiterated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Rothschild & Co Redburn dropped their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. The Goldman Sachs Group dropped their price target on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. TD Cowen dropped their price target on shares of Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $40.77.

Comcast Trading Down 2.1%

Shares of NASDAQ CMCSA opened at $32.52 on Monday. The stock has a market cap of $121.42 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 1.57 and a beta of 0.92. The business has a 50 day simple moving average of $34.79 and a 200 day simple moving average of $35.09. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during 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 quarter in the previous year, the business posted $1.21 EPS. On average, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company 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 annualized dividend and a dividend yield of 4.1%. Comcast's payout ratio is presently 21.82%.

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.

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