Engineers Gate Manager LP Purchases 57,010 Shares of Comcast Corporation $CMCSA

Key Points

• Engineers Gate Manager LP increased its Comcast stake by 561% in the second quarter, purchasing 57,010 additional shares and bringing its holdings to 67,172 shares valued at approximately $1.65 million.
• Comcast reported quarterly adjusted earnings of $1.04 per share and revenue of $29.94 billion, beating analyst estimates, although revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33 per share, representing a 5.6% annualized yield; analysts maintain a consensus “Hold” rating with an average price target of $32.69.

Engineers Gate Manager LP raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 561.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,172 shares of the cable giant's stock after acquiring an additional 57,010 shares during the quarter. Engineers Gate Manager LP's holdings in Comcast were worth $1,649,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allied Private Wealth LLC bought a new stake in Comcast in the second quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast in the fourth quarter worth $27,000. Whipplewood Advisors LLC grew its holdings in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD bought a new stake in Comcast in the first quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Comcast in the second quarter valued at $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 2.8%

NASDAQ:CMCSA opened at $23.73 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. Comcast Corporation has a one year low of $21.28 and a one year high of $32.85. The company has a market cap of $84.21 billion, a PE ratio of 7.68, a PEG ratio of 1.74 and a beta of 0.68. The firm has a 50-day moving average of $25.07 and a 200-day moving average of $26.10.

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 the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analysts' expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts expect that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. Comcast's payout ratio is presently 42.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Freedom Capital raised shares of Comcast to a "hold" rating in a research report on Friday, June 12th. The Goldman Sachs Group decreased their target price on Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. UBS Group reaffirmed a "neutral" rating and set a $27.00 price target (down from $32.00) on shares of Comcast in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Comcast from a "hold" rating to a "buy" rating and cut their price target for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $26.00 price objective on Comcast and gave the company a "sector perform" rating in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Comcast has an average rating of "Hold" and a consensus target price of $32.69.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.