GAMMA Investing LLC Raises Stock Position in Comcast Corporation $CMCSA

Key Points

• GAMMA Investing LLC increased its holdings in Comcast Corporation by 62.4% during the second quarter, owning a total of 51,244 shares valued at approximately $1.83 million.
• Comcast recently announced a quarterly dividend of $0.33 per share, representing a 4.2% yield, to be paid on October 22nd to investors of record on October 1st.
• Several analysts have revised their price targets for Comcast, with a consensus rating of "Hold" and an average price target of $40.22 amid varied ratings from "Strong Buy" to "Sell."

GAMMA Investing LLC boosted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 62.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,244 shares of the cable giant's stock after buying an additional 19,684 shares during the period. GAMMA Investing LLC's holdings in Comcast were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Advisor OS LLC grew its position in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after purchasing an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new position in shares of Comcast during the first quarter valued at about $335,000. DAVENPORT & Co LLC grew its position in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC grew its position in shares of Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock valued at $2,632,000 after purchasing an additional 23,607 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMCSA. Morgan Stanley dropped their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Sanford C. Bernstein dropped their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research report on Wednesday, September 10th. Rothschild & Co Redburn dropped their price target on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Moffett Nathanson lifted their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Scotiabank lifted their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.22.

Comcast Stock Performance

Comcast stock opened at $31.49 on Tuesday. The company has a 50 day moving average price of $33.37 and a 200-day moving average price of $34.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The company has a market capitalization of $116.27 billion, a PE ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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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