Mediolanum International Funds Ltd Purchases 300,231 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Mediolanum International Funds Ltd increased its stake in Comcast Corporation by 160.2%, acquiring an additional 300,231 shares to total 487,598 shares valued at approximately $17.86 million.
• Comcast reported earnings per share of $1.09 for the quarter, surpassing analysts' expectations, while its revenue slightly declined by 0.6% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized yield of 3.92%, with a payout ratio of 32.43% currently.

Mediolanum International Funds Ltd raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 160.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,598 shares of the cable giant's stock after acquiring an additional 300,231 shares during the quarter. Mediolanum International Funds Ltd's holdings in Comcast were worth $17,856,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CMCSA. Pacer Advisors Inc. increased its position in Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the period. Capital World Investors increased its position in Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. KBC Group NV increased its position in Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after purchasing an additional 8,928,641 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the last quarter. Finally, Dodge & Cox increased its stake in shares of Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMCSA shares. Benchmark reiterated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. BNP Paribas Exane decreased their price objective on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Scotiabank boosted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, New Street Research cut their price objective on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and an average price target of $41.13.

Comcast Trading Up 0.2%

Shares of Comcast stock traded up $0.06 during midday trading on Wednesday, reaching $32.89. The company had a trading volume of 13,843,525 shares, compared to its average volume of 24,271,838. The stock has a fifty day moving average price of $34.91 and a 200 day moving average price of $35.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $122.79 billion, a PE ratio of 8.09, a P/E/G ratio of 1.63 and a beta of 0.95. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

Comcast Company 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.