Harbor Island Capital LLC Grows Position in Comcast Corporation $CMCSA

Harbor Island Capital LLC lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 14.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 549,531 shares of the cable giant's stock after purchasing an additional 69,130 shares during the quarter. Comcast comprises 3.6% of Harbor Island Capital LLC's investment portfolio, making the stock its 12th biggest holding. Harbor Island Capital LLC's holdings in Comcast were worth $13,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Comcast during the 4th quarter valued at $2,498,626,000. Capital World Investors increased its stake in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock worth $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant's stock worth $1,663,825,000 after acquiring an additional 21,958,603 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Comcast by 824.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after acquiring an additional 10,359,800 shares during the period. Finally, State Street Corp boosted its stake in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMCSA. Morgan Stanley set a $29.00 price objective on shares of Comcast in a report on Friday, July 24th. Freedom Capital raised Comcast to a "hold" rating in a research report on Friday, June 12th. Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research note on Thursday, July 2nd. Royal Bank Of Canada set a $26.00 price target on Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Finally, Scotiabank set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average price target of $32.96.

Comcast Stock Down 1.2%

NASDAQ:CMCSA opened at $26.30 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $93.33 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.89 and a beta of 0.68. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45. The firm has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $26.56.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business's revenue was down 1.2% on a year-over-year basis. Analysts predict that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.0%. Comcast's dividend payout ratio is 42.72%.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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