Hennessy Advisors Inc. Has $7.45 Million Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Hennessy Advisors increased its Comcast stake by 45.2% in the second quarter, purchasing 94,458 additional shares for a total holding of 303,558 shares valued at approximately $7.45 million.
• Institutional investors own 84.32% of Comcast, while the stock recently traded at $26.19. The company has a market capitalization of $92.94 billion and a valuation of 8.48 times earnings.
• Comcast exceeded quarterly earnings and revenue estimates, but revenue declined 1.2% year over year. The company announced a $0.33 quarterly dividend, representing a 5.0% yield, while analysts maintain a consensus “Hold” rating with an average price target of $32.96.

Hennessy Advisors Inc. lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 45.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,558 shares of the cable giant's stock after buying an additional 94,458 shares during the quarter. Hennessy Advisors Inc.'s holdings in Comcast were worth $7,452,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Norges Bank bought a new stake in Comcast during the 4th quarter worth about $2,498,626,000. Capital World Investors raised its stake in shares of Comcast by 20.8% in the fourth 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 during the last quarter. Capital Research Global Investors raised its stake in shares of Comcast by 65.1% in the fourth 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock worth $333,509,000 after purchasing an additional 10,359,800 shares in the last quarter. Finally, State Street Corp lifted its position in shares of 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 purchasing an additional 7,917,335 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Up 0.0%

Shares of NASDAQ CMCSA opened at $26.19 on Friday. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The firm's 50-day moving average is $23.85 and its 200-day moving average is $26.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $92.94 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67.

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

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's payout ratio is currently 42.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reissued a "neutral" rating on shares of Comcast in a report on Tuesday, June 23rd. Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the stock an "underweight" rating in a report on Friday, July 24th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $28.00 price objective on shares of Comcast in a research report on Monday, July 13th. Finally, Citigroup lowered their target price on Comcast from $35.50 to $32.00 and set a "buy" rating for the company in a research note on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Comcast presently has a consensus rating of "Hold" and an average target price of $32.96.

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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