Dodge & Cox Buys 15,115,074 Shares of Comcast Corporation $CMCSA

Key Points

• Dodge & Cox has increased its ownership of Comcast Corporation shares by 19.1%, acquiring 15,115,074 additional shares to reach a total of 94,217,741 shares, making Comcast its 14th biggest position.
• Comcast recently announced a quarterly dividend of $0.33 per share, resulting in an annual yield of 3.9% and a payout ratio of 21.82%.
• Comcast's stock is currently trading at $34.15, with a market capitalization of $126.09 billion and a recent quarterly revenue of $30.31 billion, exceeding analyst expectations.

Dodge & Cox raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 94,217,741 shares of the cable giant's stock after acquiring an additional 15,115,074 shares during the period. Comcast makes up approximately 2.0% of Dodge & Cox's holdings, making the stock its 14th biggest position. Dodge & Cox owned approximately 2.52% of Comcast worth $3,476,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in Comcast during the 1st quarter valued at about $26,000. Abound Financial LLC bought a new position in Comcast during the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its stake in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC bought a new position in Comcast during the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates lifted 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 worth $33,000 after purchasing an additional 600 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Trading Up 1.6%

Comcast stock opened at $34.15 on Friday. The firm has a 50 day moving average of $34.21 and a 200 day moving average of $34.77. The firm has a market capitalization of $126.09 billion, a price-to-earnings ratio of 5.64, a P/E/G ratio of 2.01 and a beta of 0.92. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. 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 (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period in the prior year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CMCSA shares. BNP Paribas Exane cut their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Scotiabank increased their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.73.

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.

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