Commerce Bank Boosts Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Commerce Bank increased its holdings in Comcast Corporation by 55.9%, owning 337,409 shares worth approximately $12.45 million as of last quarter.
• Comcast reported $1.25 earnings per share for the last quarter, beating estimates, and its revenue was up 2.1% year-over-year at $30.31 billion.
• The company declared a quarterly dividend of $0.33 per share, representing a yield of 4.1%, to be paid on October 22nd.

Commerce Bank boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 55.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,409 shares of the cable giant's stock after buying an additional 120,958 shares during the quarter. Commerce Bank's holdings in Comcast were worth $12,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sculati Wealth Management LLC lifted its position 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 worth $1,156,000 after purchasing an additional 285 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Comcast by 2.0% during the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after purchasing an additional 300 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after purchasing an additional 300 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Comcast by 0.6% during the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after purchasing an additional 310 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its position in shares of Comcast by 1.7% during the first quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock worth $690,000 after purchasing an additional 318 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CMCSA. Moffett Nathanson lifted their price objective on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. UBS Group decreased their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Friday. Arete Research upgraded Comcast to a "hold" rating in a report on Tuesday, July 8th. Morgan Stanley lifted their price objective on Comcast from $37.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Citigroup decreased their price objective on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $40.77.

Comcast Price Performance

Shares of CMCSA stock opened at $32.52 on Friday. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The firm has a market capitalization of $121.42 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.91. The stock's 50-day simple moving average is $34.79 and its 200-day simple moving average is $35.11.

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. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Comcast's dividend payout ratio is currently 32.43%.

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.

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