NEOS Investment Management LLC Increases Holdings in Comcast Corporation $CMCSA

Key Points

• NEOS Investment Management increased its Comcast stake by 9.6% in the second quarter, purchasing 240,763 additional shares. It now owns 2.74 million shares valued at approximately $66.4 million, while institutional investors collectively hold 84.32% of CMCSA.
• Comcast reported quarterly EPS of $1.04, exceeding the $0.97 consensus estimate, while revenue of $29.94 billion also topped expectations. However, revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 payout and a 5.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.96.

NEOS Investment Management LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,740,535 shares of the cable giant's stock after purchasing an additional 240,763 shares during the period. NEOS Investment Management LLC owned approximately 0.08% of Comcast worth $66,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMCSA. North Dakota State Investment Board purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $3,754,000. Inceptionr LLC purchased a new position in shares of Comcast in the first quarter valued at $660,000. Bank of America Corp DE boosted its stake in shares of Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Comcast by 7.7% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant's stock valued at $21,487,000 after purchasing an additional 62,671 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Comcast by 53.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant's stock valued at $6,161,000 after purchasing an additional 72,129 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $26.65 on Friday. Comcast Corporation has a twelve month low of $21.28 and a twelve month high of $34.45. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $94.57 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68. The business has a 50 day simple moving average of $24.79 and a 200-day simple moving average of $26.49.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is presently 42.72%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Morgan Stanley set a $29.00 target price on Comcast in a research note on Friday, July 24th. UBS Group reaffirmed a "neutral" rating on shares of Comcast in a research report on Tuesday, June 23rd. Citigroup cut their price target on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a research note on Monday, June 29th. Finally, BNP Paribas Exane reduced their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.96.

Comcast 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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