Douglas Lane & Associates LLC Has $75.84 Million Stake in Comcast Corporation $CMCSA

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Comcast Corporation by 4.4%, now holding approximately $75.84 million worth of shares.
• Comcast reported a quarterly earnings of $1.25 EPS, exceeding expectations by $0.07, with revenue hitting $30.31 billion for the quarter.
• The company announced a quarterly dividend of $0.33, which provides a dividend yield of 4.0% and will be paid on October 22nd.

Douglas Lane & Associates LLC decreased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,124,957 shares of the cable giant's stock after selling 98,539 shares during the quarter. Comcast accounts for about 1.1% of Douglas Lane & Associates LLC's portfolio, making the stock its 26th largest position. Douglas Lane & Associates LLC owned approximately 0.06% of Comcast worth $75,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CMCSA. Nuveen LLC acquired a new position in Comcast in the first quarter valued at about $940,015,000. Dodge & Cox increased its holdings in shares of Comcast by 19.1% in 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. Pacer Advisors Inc. increased its holdings in shares of Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after acquiring an additional 12,586,329 shares in the last quarter. KBC Group NV increased its holdings in shares of Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after acquiring an additional 8,928,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Comcast by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after acquiring an additional 4,991,891 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CMCSA shares. Rosenblatt Securities increased their price target on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Arete Research upgraded Comcast to a "hold" rating in a report on Tuesday, July 8th. Royal Bank Of Canada started coverage on Comcast in a report on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price target for the company. Barclays decreased their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Morgan Stanley decreased their price objective 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 investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.56.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $33.06 on Friday. The stock has a 50 day moving average price of $33.79 and a 200 day moving average price of $34.59. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $122.06 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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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