State of Wyoming Invests $538,000 in Comcast Corporation $CMCSA

Key Points

• The State of Wyoming has invested approximately $538,000 in Comcast Corporation ($CMCSA), acquiring 14,584 shares in the first quarter.
• Comcast recently announced a quarterly dividend of $0.33, equating to an annualized dividend of $1.32 and a dividend yield of 3.9%.
• The consensus rating for Comcast stock is currently a "Hold", with an average price target set at $40.73.

State of Wyoming bought a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,584 shares of the cable giant's stock, valued at approximately $538,000.

Other hedge funds have also modified their holdings of the company. Advisor OS LLC raised its holdings in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after buying an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after buying an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Comcast in the 1st quarter worth approximately $335,000. DAVENPORT & Co LLC raised its holdings in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after buying an additional 1,261,278 shares in the last quarter. Finally, American Financial Group Inc. raised its holdings in shares of Comcast by 29.0% in the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after buying an additional 60,000 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent research reports. Argus cut Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Arete Research upgraded Comcast to a "hold" rating in a research report on Tuesday, July 8th. Moffett Nathanson lifted their price objective on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley cut their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Finally, Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Up 1.2%

NASDAQ CMCSA opened at $33.97 on Friday. The stock has a fifty day moving average of $34.14 and a 200-day moving average of $34.74. The stock has a market capitalization of $125.42 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

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, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

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 3.9%. The ex-dividend date of this dividend 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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