Comcast Corporation (NASDAQ:CMCSA) Shares Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its stake in Comcast Corporation by 13.1%, owning a total of 568,912 shares valued at approximately $20.99 million after acquiring an additional 65,899 shares in Q1.
• Institutional investors collectively own 84.32% of Comcast's stock, with notable increases in holdings from several firms like Pacer Advisors Inc. and KBC Group NV.
• Comcast recently reported higher-than-expected earnings of $1.25 EPS for the last quarter, with revenues of $30.31 billion surpassing expectations of $29.81 billion.

iA Global Asset Management Inc. increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,912 shares of the cable giant's stock after purchasing an additional 65,899 shares during the period. iA Global Asset Management Inc.'s holdings in Comcast were worth $20,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor OS LLC lifted its stake in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the period. OMNI 360 Wealth Inc. acquired a new position in shares of Comcast in the first quarter worth about $335,000. DAVENPORT & Co LLC boosted its stake in shares of Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after acquiring an additional 1,261,278 shares in the last quarter. Transcend Capital Advisors LLC grew its position in shares of Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock valued at $2,834,000 after acquiring an additional 13,678 shares during the period. Finally, Integral Investment Advisors Inc. acquired a new stake in shares of Comcast during the 1st quarter valued at about $632,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 1.5%

Shares of CMCSA traded down $0.49 during mid-day trading on Thursday, reaching $31.67. The stock had a trading volume of 24,955,561 shares, compared to its average volume of 22,320,210. 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 business's fifty day moving average is $34.61 and its 200 day moving average is $34.99. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. The firm has a market cap of $118.25 billion, a price-to-earnings ratio of 5.23, a P/E/G ratio of 1.93 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted 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 business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. On average, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's dividend payout ratio is currently 21.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. New Street Research decreased their target price on Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.73.

About Comcast

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.