Plato Investment Management Ltd Invests $6.62 Million in Comcast Corporation $CMCSA

Key Points

• Plato Investment Management acquired 271,166 Comcast shares worth approximately $6.62 million, while institutional investors collectively own 84.32% of the company.
• Comcast reported quarterly EPS of $1.04, exceeding expectations of $0.97, although revenue declined 1.2% year over year to $29.94 billion.
• The company announced a quarterly dividend of $0.33, representing a 5.0% annualized yield; analysts maintain a consensus “Hold” rating with an average price target of $32.96.

Plato Investment Management Ltd acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 271,166 shares of the cable giant's stock, valued at approximately $6,618,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the period. State Street Corp raised its holdings in Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock worth $5,583,604,000 after purchasing an additional 6,117,946 shares in the last quarter. Capital World Investors lifted its holdings in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after buying an additional 24,166,881 shares during the period. Dodge & Cox boosted its position in shares of Comcast by 0.4% during the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock worth $3,376,599,000 after purchasing an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA opened at $26.19 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $92.94 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.49 and a beta of 0.67. The company's 50 day simple moving average is $23.85 and its 200 day simple moving average is $26.88. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the previous year, the company earned $1.25 EPS. Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group decreased their price target on Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings downgraded Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a "buy" rating and issued a $31.00 target price on shares of Comcast in a report on Friday, July 24th. New Street Research dropped their price target on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. Finally, Morgan Stanley set a $29.00 price target on Comcast in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus target price of $32.96.

Comcast Company 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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