Crossmark Global Holdings Inc. Boosts Holdings in Comcast Corporation $CMCSA

Key Points

• Crossmark Global Holdings increased its Comcast stake by 17.8% in the second quarter, adding 223,702 shares to own 1.48 million shares valued at approximately $36.4 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast reported quarterly adjusted earnings of $1.04 per share and revenue of $29.94 billion, exceeding analyst expectations, though revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33 per share, equating to a 5.0% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $32.96 versus the stock’s reported $26.19 price.

Crossmark Global Holdings Inc. increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 17.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,481,168 shares of the cable giant's stock after purchasing an additional 223,702 shares during the period. Crossmark Global Holdings Inc.'s holdings in Comcast were worth $36,363,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CMCSA. Beacon Financial Group boosted its position in shares of Comcast by 6.2% in the 2nd quarter. Beacon Financial Group now owns 36,709 shares of the cable giant's stock worth $901,000 after buying an additional 2,147 shares in the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of Comcast by 22.1% in the 2nd quarter. CHICAGO TRUST Co NA now owns 54,987 shares of the cable giant's stock valued at $1,350,000 after purchasing an additional 9,964 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in shares of Comcast by 12.2% in the 2nd quarter. Hengehold Capital Management LLC now owns 88,382 shares of the cable giant's stock worth $2,170,000 after purchasing an additional 9,615 shares during the period. HBW Advisory Services LLC boosted its position in shares of Comcast by 1.4% in the second quarter. HBW Advisory Services LLC now owns 81,770 shares of the cable giant's stock worth $2,007,000 after buying an additional 1,105 shares during the period. Finally, Davis Capital Management boosted its position in Comcast by 2,856.5% in the 2nd quarter. Davis Capital Management now owns 4,080 shares of the cable giant's stock valued at $100,000 after buying an additional 3,942 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Comcast stock opened at $26.19 on Friday. The company's 50-day moving average is $23.85 and its two-hundred day moving average is $26.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The company has a market cap of $92.94 billion, a PE ratio of 8.48, a PEG ratio of 1.49 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. Equities analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast's payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CMCSA. Barclays set a $26.00 price target on Comcast and gave the company an "equal weight" rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. New Street Research cut their target price on Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, June 25th. Citigroup cut their price objective on shares of Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a research report on Monday, June 29th. Finally, Weiss Ratings downgraded Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus price target of $32.96.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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