National Bank of Canada FI Raises Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• National Bank of Canada FI has significantly increased its stake in Comcast Corporation by 89.0%, owning over 5.2 million shares valued at approximately $192 million.
• Comcast's most recent quarterly earnings exceeded expectations, reporting $1.25 earnings per share and revenue of $30.31 billion, which is a 2.1% year-over-year increase.
• The company announced a quarterly dividend of $0.33 per share, yielding 4.2%, with a payout ratio of 21.82%.

National Bank of Canada FI lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 89.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,211,748 shares of the cable giant's stock after purchasing an additional 2,454,228 shares during the quarter. National Bank of Canada FI owned about 0.14% of Comcast worth $192,313,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the first quarter worth $26,000. Abound Financial LLC bought a new stake in shares of Comcast in the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC raised its stake 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 bought a new position in shares of Comcast during the fourth quarter worth about $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $31.67 on Friday. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The business's 50-day moving average price is $34.61 and its two-hundred day moving average price is $34.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $118.25 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 net margin of 18.44% and a return on equity of 18.86%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is presently 21.82%.

Analysts Set New Price Targets

CMCSA has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wells Fargo & Company lowered Comcast from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $37.00 to $31.00 in a report on Monday, April 14th. Barclays reduced their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Citigroup lowered their price objective on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $40.73.

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.

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