Comcast Corporation (NASDAQ:CMCSA) Shares Acquired by Private Management Group Inc.

Key Points

• Private Management Group Inc. increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 12.6% in the first quarter, owning 963,932 shares valued at approximately $35.6 million.
• Comcast reported $1.09 earnings per share for the last quarter, exceeding consensus estimates of $1.01, although revenue decreased by 0.6% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, reflecting a 3.73% yield and a payout ratio of 32.43%.

Private Management Group Inc. boosted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 963,932 shares of the cable giant's stock after buying an additional 108,145 shares during the quarter. Comcast makes up approximately 1.3% of Private Management Group Inc.'s portfolio, making the stock its 16th largest holding. Private Management Group Inc.'s holdings in Comcast were worth $35,569,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. Norges Bank bought a new position in Comcast during the fourth quarter worth about $3,835,226,000. Geode Capital Management LLC boosted its position in Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Dodge & Cox boosted its position in Comcast by 6.8% during the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.8%

CMCSA traded down $0.27 during trading on Tuesday, reaching $33.27. The company had a trading volume of 11,240,854 shares, compared to its average volume of 24,193,424. The stock has a market cap of $124.20 billion, a P/E ratio of 8.17, a PEG ratio of 1.63 and a beta of 0.95. The business has a 50 day simple moving average of $34.97 and a 200-day simple moving average of $35.20. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.97%. Comcast's dividend payout ratio is currently 32.43%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CMCSA shares. Moffett Nathanson increased their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Bernstein Bank decreased their price target on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Rothschild & Co Redburn decreased their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Barclays decreased their target price on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Comcast has an average rating of "Hold" and an average target price of $41.13.

Comcast Company 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.