Comcast Corporation $CMCSA Shares Acquired by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Comcast Corporation by 66.7%, acquiring an additional 312,370 shares to bring its total holdings to 781,041 shares valued at approximately $28.82 million.
• Comcast's recent quarterly earnings showed a profit of $1.25 EPS, surpassing estimates, with revenues of $30.31 billion, marking a 2.1% year-over-year increase.
• The company announced a quarterly dividend of $0.33, with a yield of 4.0%, indicating a dividend payout ratio of 21.82%.

Kovitz Investment Group Partners LLC grew its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 66.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781,041 shares of the cable giant's stock after buying an additional 312,370 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Comcast were worth $28,820,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter worth $26,000. Abound Financial LLC acquired a new position in shares of Comcast during the 1st quarter worth $29,000. Retirement Wealth Solutions LLC increased its holdings in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast in the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates boosted its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. Moffett Nathanson increased their target price on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. New Street Research dropped their price objective on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Arete Research upgraded Comcast to a "hold" rating in a research report on Tuesday, July 8th. Morgan Stanley dropped their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Finally, Scotiabank boosted their price objective on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Trading Down 1.8%

Shares of CMCSA stock traded down $0.60 during mid-day trading on Wednesday, hitting $33.29. 20,289,539 shares of the company's stock were exchanged, compared to its average volume of 24,165,296. The stock has a market cap of $122.91 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 2.03 and a beta of 0.92. 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 Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock has a 50-day simple moving average of $34.26 and a two-hundred day simple moving average of $34.76.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. Equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

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

Comcast Profile

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.