Jones Financial Companies Lllp Grows Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Jones Financial Companies Lllp increased its stake in Comcast Corporation by 22.3%, bringing its total holdings to 1,087,679 shares valued at approximately $39.9 million as of the end of the most recent quarter.
• Comcast reported quarterly earnings of $1.25 per share, exceeding analysts' expectations and marking a 2.1% year-over-year revenue increase to $30.31 billion.
• The company declared a quarterly dividend of $0.33, resulting in an annualized yield of 4.0%, with payment scheduled for October 22nd.

Jones Financial Companies Lllp lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 22.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,087,679 shares of the cable giant's stock after purchasing an additional 198,377 shares during the period. Jones Financial Companies Lllp's holdings in Comcast were worth $39,902,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Strs Ohio purchased a new stake in Comcast during the first quarter valued at approximately $69,063,000. Ellsworth Advisors LLC acquired a new stake in shares of Comcast in the first quarter worth $1,796,000. Jacobi Capital Management LLC increased its stake in shares of Comcast by 12.2% in the first quarter. Jacobi Capital Management LLC now owns 34,487 shares of the cable giant's stock worth $1,273,000 after acquiring an additional 3,755 shares during the period. WBI Investments LLC acquired a new stake in shares of Comcast in the first quarter worth $844,000. Finally, Acadian Asset Management LLC increased its stake in shares of Comcast by 119.1% in the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock worth $280,238,000 after acquiring an additional 4,128,434 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $33.06 on Monday. The firm's 50-day simple moving average is $33.79 and its 200 day simple moving average is $34.59. The stock has a market cap of $122.06 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.98 and a beta of 0.93. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. 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 announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $29.81 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMCSA. Arete Research raised shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Morgan Stanley lowered their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Rothschild & Co Redburn lowered their price target on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. UBS Group decreased their price objective 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. Finally, Royal Bank Of Canada assumed coverage on shares of Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.56.

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.

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