Senator Investment Group LP Acquires Shares of 1,500,000 Comcast Corporation $CMCSA

Key Points

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Senator Investment Group LP purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,500,000 shares of the cable giant's stock, valued at approximately $55,350,000. Comcast makes up about 2.9% of Senator Investment Group LP's portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Advisors Network Inc. bought a new stake in shares of Comcast during the first quarter valued at approximately $299,000. Edgar Lomax Co. VA increased its position in shares of Comcast by 104.7% during the first quarter. Edgar Lomax Co. VA now owns 580,255 shares of the cable giant's stock valued at $21,411,000 after acquiring an additional 296,745 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Comcast by 0.4% during the first quarter. Aptus Capital Advisors LLC now owns 236,426 shares of the cable giant's stock valued at $8,724,000 after acquiring an additional 865 shares in the last quarter. Versor Investments LP boosted its stake in shares of Comcast by 47.0% during the 1st quarter. Versor Investments LP now owns 53,800 shares of the cable giant's stock worth $1,985,000 after acquiring an additional 17,200 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in shares of Comcast by 7.1% during the 1st quarter. Freestone Capital Holdings LLC now owns 339,554 shares of the cable giant's stock worth $12,530,000 after acquiring an additional 22,577 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CMCSA shares. Rosenblatt Securities lifted their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Morgan Stanley dropped their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Barclays dropped their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. New Street Research dropped their price target on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Moffett Nathanson lifted their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. 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 stock. Based on data from MarketBeat.com, Comcast currently has an average rating of "Hold" and an average price target of $40.73.

Comcast Price Performance

Comcast stock traded up $0.55 during mid-day trading on Friday, hitting $34.15. The stock had a trading volume of 25,267,336 shares, compared to its average volume of 24,360,090. The firm has a market capitalization of $126.09 billion, a P/E ratio of 5.64, a P/E/G ratio of 2.01 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm's 50 day moving average is $34.21 and its 200 day moving average is $34.77. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's dividend payout ratio is currently 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.