Jones Financial Companies Lllp Invests $2 Million in Comcast Corporation $CMCSA

Key Points

• Jones Financial Companies bought 81,450 Comcast shares worth approximately $2 million in the second quarter. Institutional investors collectively own 84.32% of Comcast’s outstanding stock.
• Analyst sentiment remains mixed, with Comcast holding an average “Hold” rating and a consensus price target of $32.96; recent targets range from $26 to $31.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, while revenue declined 1.2% year over year. The company declared a quarterly dividend of $0.33, representing a 4.9% annualized yield.

Jones Financial Companies Lllp purchased a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 81,450 shares of the cable giant's stock, valued at approximately $2,000,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares during the last quarter. Capital World Investors grew its holdings in shares of Comcast by 20.8% during the fourth 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 grew its holdings in shares of Comcast by 0.4% during the fourth 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 last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 1,465,428 shares during the period. Finally, Norges Bank acquired a new stake in shares of Comcast during the 4th quarter worth approximately $2,498,626,000. 84.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CMCSA shares. Weiss Ratings lowered Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. New Street Research dropped their target price on Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, June 25th. Rosenblatt Securities reiterated a "buy" rating and issued a $31.00 target price on shares of Comcast in a research note on Friday, July 24th. Barclays set a $26.00 price target on shares of Comcast and gave the company an "equal weight" rating in a report on Friday, July 24th. Finally, Morgan Stanley set a $29.00 price objective on shares of Comcast in a report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of "Hold" and an average price target of $32.96.

Comcast Price Performance

Shares of CMCSA opened at $27.02 on Tuesday. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The stock's fifty day moving average is $24.14 and its 200-day moving average is $26.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $95.88 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.53 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.25 earnings per share. The company's quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. Comcast's dividend payout ratio (DPR) is 42.72%.

Comcast 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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