Comcast Corporation (NASDAQ:CMCSA) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Comcast Corporation by 10.2%, now holding over 1.28 million shares valued at approximately $47.25 million.
• Comcast's recent earnings report showed $1.25 EPS, exceeding analyst estimates, and its revenue increased by 2.1% year-over-year.
• The company announced a quarterly dividend of $0.33 per share with a yield of 4.2%, to be paid on October 22nd.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,282,073 shares of the cable giant's stock after purchasing an additional 118,839 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Comcast were worth $47,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new position in shares of Comcast in the 1st quarter valued at about $26,000. Abound Financial LLC purchased a new position in shares of Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC boosted its stake in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast in the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CMCSA. Morgan Stanley cut their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. UBS Group dropped their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Rosenblatt Securities boosted their target price on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. BNP Paribas Exane dropped their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a report on Friday, April 25th. Finally, Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.73.

Comcast Trading Up 2.6%

NASDAQ:CMCSA traded up $0.84 on Wednesday, hitting $32.94. 29,733,444 shares of the stock were exchanged, compared to its average volume of 23,008,912. The stock has a market cap of $121.62 billion, a PE ratio of 5.44, a PEG ratio of 1.93 and a beta of 0.92. 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 fifty day moving average of $34.41 and a 200-day moving average of $34.85. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31.

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, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during 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%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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.