Foundation Resource Management Inc. Purchases Shares of 208,053 Comcast Corporation $CMCSA

Key Points

• Foundation Resource Management Inc. has invested approximately $7.43 million in Comcast Corporation, acquiring 208,053 shares in the 2nd quarter.
• Comcast's latest quarterly earnings report showed EPS of $1.25, surpassing estimates, and revenue of $30.31 billion, reflecting a 2.1% increase year-over-year.
• The company announced a dividend of $0.33 per share, which will be paid on October 22nd, translating to an annualized yield of 4.2%.

Foundation Resource Management Inc. acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 208,053 shares of the cable giant's stock, valued at approximately $7,425,000.

Other hedge funds also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter valued at approximately $26,000. Abound Financial LLC acquired a new stake in Comcast during the first quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Comcast during the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC increased its position in shares of 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 last quarter. Finally, Global Wealth Strategies & Associates boosted its holdings 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 valued at $33,000 after buying an additional 600 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.10 during trading hours on Monday, reaching $31.49. The stock had a trading volume of 36,351,866 shares, compared to its average volume of 22,130,610. The firm has a 50-day moving average of $33.37 and a 200-day moving average of $34.41. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $116.27 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 1.89 and a beta of 0.93. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share 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 business had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Analyst Ratings Changes

Several research firms have weighed in on CMCSA. Rothschild & Co Redburn dropped their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Loop Capital dropped their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday. Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Rosenblatt Securities boosted their target price on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Barclays cut their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. One equities 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 stock. According to MarketBeat, Comcast presently has an average rating of "Hold" and a consensus price target 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.