SCS Capital Management LLC Makes New $419,000 Investment in Comcast Corporation $CMCSA

Key Points

• SCS Capital Management LLC invested approximately $419,000 in Comcast Corporation by acquiring 11,363 shares in the first quarter.
• Comcast announced a quarterly dividend of $0.33, representing an annual yield of 4.0%, with the payment set for October 22nd.
• According to analysts, Comcast has a consensus rating of "Hold" and a price target of $40.56, indicating mixed outlooks for the company's stock performance.

SCS Capital Management LLC purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,363 shares of the cable giant's stock, valued at approximately $419,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Nuveen LLC acquired a new position in Comcast during the 1st quarter worth approximately $940,015,000. Dodge & Cox grew its holdings in 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 acquiring an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after acquiring an additional 12,586,329 shares in the last quarter. KBC Group NV grew its holdings in Comcast by 724.7% during the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after acquiring an additional 8,928,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays lowered their target price 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. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Citigroup restated a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Finally, Sanford C. Bernstein lowered their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus price target of $40.56.

Comcast Stock Down 0.2%

CMCSA stock opened at $33.40 on Friday. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The stock has a market capitalization of $123.32 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $33.85 and a 200-day moving average of $34.62.

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

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

About Comcast

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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