Harber Asset Management LLC Makes New Investment in Comcast Corporation $CMCSA

Key Points

• Harber Asset Management LLC made a significant investment of $16.55 million in Comcast Corporation, purchasing 448,521 shares, which constitutes 5.9% of their portfolio.
• Comcast reported a quarterly EPS of $1.25, exceeding expectations and reflecting a year-over-year revenue increase of 2.1% to $30.31 billion.
• The company also declared a quarterly dividend of $0.33 per share, translating to an annual yield of 3.9%, with a payout ratio of 21.82%.

Harber Asset Management LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 448,521 shares of the cable giant's stock, valued at approximately $16,550,000. Comcast accounts for about 5.9% of Harber Asset Management LLC's portfolio, making the stock its 3rd largest holding.

Several other hedge funds also recently modified their holdings of the stock. Mubadala Investment Co PJSC purchased a new position in shares of Comcast during the first quarter valued at approximately $3,859,000. Vident Advisory LLC boosted its position in shares of Comcast by 22.8% during the first quarter. Vident Advisory LLC now owns 119,923 shares of the cable giant's stock valued at $4,425,000 after buying an additional 22,235 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Comcast by 76.6% during the first quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant's stock valued at $348,363,000 after buying an additional 4,096,382 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Comcast by 37.3% during the first quarter. Canada Pension Plan Investment Board now owns 3,918,217 shares of the cable giant's stock valued at $144,582,000 after buying an additional 1,064,614 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Comcast during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.16 during mid-day trading on Tuesday, hitting $34.13. The company had a trading volume of 20,294,509 shares, compared to its average volume of 19,702,632. The company has a market capitalization of $126.02 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 2.03 and a beta of 0.93. Comcast Corporation has a 1 year low of $31.03 and a 1 year 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. The stock's 50-day moving average price is $34.12 and its 200-day moving average price is $34.73.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMCSA. Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Citigroup reissued a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Benchmark reissued a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Argus cut Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and three have given 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.