Freestone Capital Holdings LLC Buys 22,577 Shares of Comcast Corporation $CMCSA

Key Points

• Freestone Capital Holdings LLC has increased its stake in Comcast Corporation by 7.1%, now owning 339,554 shares valued at approximately $12.53 million.
• Comcast's recent earnings report showed a net revenue increase of 2.1% year-over-year, with earnings per share of $1.25, exceeding analysts' expectations.
• The company has announced a quarterly dividend of $0.33 per share, reflecting a 3.9% yield and a payout ratio of 21.82%.

Freestone Capital Holdings LLC increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,554 shares of the cable giant's stock after acquiring an additional 22,577 shares during the quarter. Freestone Capital Holdings LLC's holdings in Comcast were worth $12,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors grew its position in Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. Ameriprise Financial Inc. grew its position in Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Northern Trust Corp grew its position in Comcast by 12.8% in the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock valued at $1,594,256,000 after purchasing an additional 4,819,443 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Comcast by 16.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock valued at $1,326,912,000 after purchasing an additional 4,991,891 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Comcast by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock valued at $1,240,955,000 after purchasing an additional 926,663 shares during the period. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CMCSA shares. Evercore ISI reduced their price target on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Moffett Nathanson lifted their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. The Goldman Sachs Group reduced their price target on shares of Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, UBS Group cut their price objective 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 research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $40.73.

Comcast Stock Performance

Shares of NASDAQ:CMCSA traded up $0.31 during midday trading on Thursday, reaching $33.60. The company had a trading volume of 16,159,058 shares, compared to its average volume of 24,272,699. The company's 50 day moving average price is $34.26 and its 200 day moving average price is $34.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $124.06 billion, a P/E ratio of 5.55, a P/E/G ratio of 2.03 and a beta of 0.92. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. As a group, sell-side analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio 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.