Manning & Napier Advisors LLC Purchases Shares of 290,215 Comcast Corporation $CMCSA

Manning & Napier Advisors LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 290,215 shares of the cable giant's stock, valued at approximately $7,125,000.

Several other large investors also recently added to or reduced their stakes in the business. Allied Private Wealth LLC bought a new stake in shares of Comcast during the 2nd quarter valued at about $26,000. Imprint Wealth LLC bought a new position in shares of Comcast in the third quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC lifted its position in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD purchased a new position in Comcast in the 1st quarter worth approximately $27,000. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued a "market perform" rating and issued a $28.00 price target on shares of Comcast in a report on Monday, July 13th. Moffett Nathanson cut their target price on shares of Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a "hold" rating to a "buy" rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Barclays set a $26.00 price target on Comcast and gave the stock an "equal weight" rating in a research note on Friday, July 24th. Finally, Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Eleven equities 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $32.96.

Comcast Trading Up 0.6%

NASDAQ CMCSA opened at $27.02 on Tuesday. The firm has a market cap of $95.88 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.53 and a beta of 0.67. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The stock has a 50-day moving average of $24.14 and a 200-day moving average of $26.76. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business had revenue of $29.94 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's payout ratio is presently 42.72%.

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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