Comcast Corporation $CMCSA Shares Bought by Harris Associates L P

Key Points

• Harris Associates L P increased its stake in Comcast Corporation by acquiring 111,662 shares, bringing its total holdings to approximately 20.59 million shares, which represents about 1.3% of their investment portfolio.
• Comcast's most recent quarterly earnings exceeded expectations, reporting a net revenue of $30.31 billion and earnings per share of $1.25, surpassing analysts' estimates of $1.18.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend of $1.32, which translates to a yield of 3.9% for shareholders.

Harris Associates L P boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,594,519 shares of the cable giant's stock after buying an additional 111,662 shares during the quarter. Comcast makes up about 1.3% of Harris Associates L P's investment portfolio, making the stock its 29th largest holding. Harris Associates L P owned approximately 0.55% of Comcast worth $759,938,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its holdings in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after buying an additional 99,986 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Comcast by 27.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 235,561 shares of the cable giant's stock valued at $8,841,000 after purchasing an additional 51,259 shares in the last quarter. Ameriprise Financial Inc. increased its position in Comcast by 12.0% during 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 acquiring an additional 5,402,377 shares during the last quarter. BIP Wealth LLC increased its position in Comcast by 25.6% during the fourth quarter. BIP Wealth LLC now owns 9,568 shares of the cable giant's stock valued at $359,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Comcast by 4.0% during the fourth quarter. Benjamin Edwards Inc. now owns 155,360 shares of the cable giant's stock valued at $5,831,000 after acquiring an additional 6,046 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

Shares of Comcast stock traded down $0.04 during trading hours on Friday, reaching $33.91. 20,907,148 shares of the company's stock were exchanged, compared to its average volume of 24,065,662. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The company has a market capitalization of $125.20 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The business has a fifty day moving average of $34.06 and a two-hundred day moving average of $34.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CMCSA. 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. Benchmark restated a "buy" rating on shares of Comcast in a report on Friday, July 18th. UBS Group lowered their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Finally, Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently 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.