CX Institutional Buys 13,006 Shares of Comcast Corporation $CMCSA

Key Points

• CX Institutional increased its holdings in Comcast Corporation by 8.2%, acquiring an additional 13,006 shares for a total of 171,725 shares valued at approximately $6.13 million.
• Comcast reported better-than-expected earnings for the last quarter, with an EPS of $1.25 compared to the consensus estimate of $1.18, and year-over-year revenue growth of 2.1%.
• The company announced a quarterly dividend of $0.33, which translates to an annualized yield of 4.2%, with a payout ratio of 21.82%.

CX Institutional lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,725 shares of the cable giant's stock after buying an additional 13,006 shares during the quarter. CX Institutional's holdings in Comcast were worth $6,129,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in shares of Comcast during the first quarter worth about $26,000. Abound Financial LLC acquired a new stake in Comcast during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd bought a new position in Comcast in the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC boosted its stake in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the period. Finally, Global Wealth Strategies & Associates lifted its stake in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock traded down $0.10 during mid-day trading on Monday, hitting $31.49. The stock had a trading volume of 36,351,866 shares, compared to its average volume of 24,244,691. The firm has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $34.46. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The firm has a market capitalization of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS 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 company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. Comcast's revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast's dividend payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CMCSA shares. Barclays dropped their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Moffett Nathanson raised their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Loop Capital reduced their price objective on Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Monday. Royal Bank Of Canada initiated coverage on Comcast in a research note on Monday, September 8th. They set a "sector perform" rating and a $38.00 target price on the stock. Finally, Morgan Stanley dropped their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of "Hold" and a consensus target price of $40.22.

Comcast 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.