Harbor Island Capital LLC Buys 66,280 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Harbor Island Capital LLC increased its stake in Comcast Corporation by 38.6% during the first quarter, now holding $8.79 million in shares, making it 12th largest holding for the firm.
• Comcast's latest quarterly earnings surpassed expectations, reporting a net revenue of $30.31 billion and earnings per share of $1.25, compared to a forecast of $1.18.
• The company has announced a $0.33 quarterly dividend, with a yield of 4.1%, set to be paid on October 22nd to shareholders of record as of October 1st.

Harbor Island Capital LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 38.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,173 shares of the cable giant's stock after acquiring an additional 66,280 shares during the quarter. Comcast comprises approximately 4.4% of Harbor Island Capital LLC's holdings, making the stock its 12th largest position. Harbor Island Capital LLC's holdings in Comcast were worth $8,789,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in shares of Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after purchasing an additional 12,586,329 shares during the period. Capital World Investors raised its position in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. KBC Group NV raised its position in shares of Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the period. Ameriprise Financial Inc. raised its position in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Finally, Dodge & Cox raised its position in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Down 1.5%

NASDAQ:CMCSA traded down $0.49 during trading hours on Thursday, reaching $31.67. 24,955,561 shares of the stock were exchanged, compared to its average volume of 22,320,210. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50 day moving average of $34.61 and a 200 day moving average of $34.99. The stock has a market cap of $118.25 billion, a PE ratio of 5.23, a PEG ratio of 1.93 and a beta of 0.92.

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 firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

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

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. Oppenheimer dropped their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Citigroup dropped their target price on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Evercore ISI dropped their target price on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.