Raiffeisen Bank International AG Purchases 99,038 Shares of Comcast Corporation $CMCSA

Key Points

• Raiffeisen Bank International AG increased its Comcast stake by 55.7% in the second quarter, purchasing 99,038 additional shares for a total holding of 276,905 shares valued at approximately $6.7 million. Institutional investors and hedge funds own 84.32% of Comcast’s stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $32.96; price targets range from $23 to $31 among recently reporting firms.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 EPS and $29.94 billion in revenue, although revenue declined 1.2% year over year. The company also declared a quarterly dividend of $0.33 per share, representing a 5.0% annualized yield.

Raiffeisen Bank International AG increased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 55.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,905 shares of the cable giant's stock after purchasing an additional 99,038 shares during the quarter. Raiffeisen Bank International AG's holdings in Comcast were worth $6,707,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allied Private Wealth LLC bought a new position in Comcast in the second quarter valued at approximately $26,000. Imprint Wealth LLC acquired a new position in shares of Comcast in the 3rd quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Comcast in the 4th quarter valued at $27,000. Whipplewood Advisors LLC boosted its position in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Comcast during the first quarter worth $27,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CMCSA shares. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the company an "underweight" rating in a report on Friday, July 24th. Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $31.00 price target on shares of Comcast in a research note on Friday, July 24th. Weiss Ratings downgraded Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Finally, New Street Research dropped their target price on shares of Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.96.

Comcast Trading Down 0.6%

Shares of NASDAQ:CMCSA opened at $26.65 on Friday. The company's 50-day moving average price is $24.79 and its two-hundred day moving average price is $26.49. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $94.57 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68.

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

Comcast Dividend Announcement

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

About Comcast

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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