Mitsubishi UFJ Asset Management Co. Ltd. Purchases 538,854 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Comcast by 8.3%, owning approximately 7,064,306 shares valued at $260.67 million as of its latest SEC filing.
• Comcast reported a net revenue of $30.31 billion for the recent quarter, surpassing analysts' expectations, with an earnings per share (EPS) of $1.25.
• The company declared a quarterly dividend of $0.33 per share, resulting in a 4.1% annualized dividend yield, with the next payout scheduled for October 22nd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,064,306 shares of the cable giant's stock after acquiring an additional 538,854 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Comcast worth $260,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Advisor OS LLC increased its position in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after acquiring an additional 8,841 shares during the period. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast in the 1st quarter valued at $335,000. DAVENPORT & Co LLC boosted its stake in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock worth $2,834,000 after buying an additional 13,678 shares in the last quarter. Finally, American Financial Group Inc. lifted its position in Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after buying an additional 60,000 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of Comcast stock remained flat at $31.67 during trading on Friday. The stock had a trading volume of 16,091,644 shares, compared to its average volume of 22,820,288. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $116.93 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92. The business has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $34.96. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter last year, the business posted $1.21 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Rosenblatt Securities increased their target price on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. BNP Paribas Exane lowered their price objective on Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th. Scotiabank raised their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of "Hold" and an average target price of $40.73.

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.