Oak Harvest Investment Services Has $6.38 Million Stock Position in Comcast Corporation $CMCSA

Key Points

• Oak Harvest Investment Services increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 5.4%, acquiring an additional 8,832 shares and bringing its total holdings to 172,840 shares valued at $6.38 million.
• Comcast reported a net income of $30.31 billion for the recent quarter, exceeding estimates and reflecting a 2.1% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.33 per share, representing an annual yield of 3.9% and an impending payout date of October 22.

Oak Harvest Investment Services grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,840 shares of the cable giant's stock after purchasing an additional 8,832 shares during the quarter. Oak Harvest Investment Services' holdings in Comcast were worth $6,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Dodge & Cox increased its position in shares of Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. Northern Trust Corp boosted its stake in shares of Comcast by 12.8% during the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock worth $1,594,256,000 after acquiring an additional 4,819,443 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Comcast by 16.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after acquiring an additional 4,991,891 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Comcast by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after acquiring an additional 926,663 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CMCSA shares. Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Barclays reduced their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. UBS Group reduced their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Performance

CMCSA traded down $0.33 during trading on Tuesday, hitting $33.68. The stock had a trading volume of 22,273,252 shares, compared to its average volume of 23,853,060. The company has a 50 day moving average price of $34.17 and a 200-day moving average price of $34.76. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of 5.57, a P/E/G ratio of 2.04 and a beta of 0.92. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders 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 dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is presently 21.82%.

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.