Janney Montgomery Scott LLC Raises Stock Position in Comcast Corporation $CMCSA

Key Points

• Janney Montgomery Scott LLC increased its Comcast stake by 7.1% in the first quarter, buying 180,157 additional shares and lifting its position to 2,721,809 shares valued at about $78.1 million.
• Comcast reported stronger-than-expected quarterly results, with EPS of $0.79 versus the $0.73 estimate and revenue of $31.46 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $0.33 per share, implying a 5.7% annualized yield, while analysts currently rate the stock a consensus Hold with a $34.46 price target.

Janney Montgomery Scott LLC grew its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,721,809 shares of the cable giant's stock after buying an additional 180,157 shares during the period. Janney Montgomery Scott LLC owned 0.08% of Comcast worth $78,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. State Street Corp increased its position in shares of Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock worth $5,583,604,000 after purchasing an additional 6,117,946 shares in the last quarter. Capital World Investors lifted its holdings 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 valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox boosted its position in shares of Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock valued at $3,376,599,000 after purchasing an additional 399,596 shares during the period. Finally, Geode Capital Management LLC grew its stake in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.20 on Friday. The stock has a fifty day moving average price of $25.29 and a 200 day moving average price of $28.03. Comcast Corporation has a 1-year low of $22.13 and a 1-year high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $82.88 billion, a PE ratio of 4.57, a P/E/G ratio of 1.89 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. During the same period in the previous year, the company posted $1.09 EPS. Comcast's revenue was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Scotiabank boosted their price objective on Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Morgan Stanley upped their price target on shares of Comcast from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. Moffett Nathanson decreased their price target on shares of Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Comcast to a "hold" rating in a research report on Saturday, March 14th. Finally, Zacks Research raised shares of Comcast from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Comcast currently has a consensus rating of "Hold" and a consensus price target of $34.46.

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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