DAVENPORT & Co LLC Has $156.25 Million Position in Comcast Corporation $CMCSA

Key Points

• DAVENPORT & Co LLC has increased its stake in Comcast Corporation by 2.5%, owning approximately 4.39 million shares valued at $156.25 million, making Comcast its 27th largest holding.
• Comcast's latest earnings report revealed earnings per share (EPS) of $1.25, exceeding analyst expectations, with revenue reaching $30.31 billion, a 2.1% increase from last year.
• The company also announced a quarterly dividend of $0.33 per share, which translates to an annualized yield of 4.3%, payable on October 22nd to shareholders of record on October 1st.

DAVENPORT & Co LLC increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,387,891 shares of the cable giant's stock after purchasing an additional 105,058 shares during the period. Comcast makes up approximately 0.9% of DAVENPORT & Co LLC's investment portfolio, making the stock its 27th largest holding. DAVENPORT & Co LLC owned about 0.12% of Comcast worth $156,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CMCSA. Dodge & Cox lifted its holdings in Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after purchasing an additional 926,663 shares during the period. Nuveen LLC bought a new position in shares of Comcast during the 1st quarter valued at about $940,015,000. Harris Associates L P grew its position in shares of Comcast by 0.5% in the 1st quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant's stock valued at $759,938,000 after purchasing an additional 111,662 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Comcast by 2.2% during the 1st quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock worth $746,980,000 after purchasing an additional 427,705 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMCSA. Sanford C. Bernstein reduced their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday, September 10th. Rosenblatt Securities upped their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. KeyCorp dropped their target price on Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday. The Goldman Sachs Group cut their target price on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Wednesday, September 24th. Finally, Citigroup reaffirmed a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $40.26.

Comcast Stock Performance

CMCSA opened at $30.90 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12-month low of $30.38 and a 12-month high of $45.31. The business has a 50 day moving average of $32.73 and a 200-day moving average of $34.13. The stock has a market cap of $114.09 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. On average, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

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.

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