Step Capital Management Pte. Ltd. Has $4.30 Million Stake in Comcast Corporation $CMCSA

Key Points

• Step Capital Management increased its Comcast stake by 150% in the second quarter, adding 105,000 shares to hold 175,000 shares worth approximately $4.30 million.
• Comcast’s latest quarterly results exceeded expectations, with EPS of $1.04 versus the $0.97 consensus and revenue of $29.94 billion; however, revenue declined 1.2% year over year.
• The company announced a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 payout and a 5.0% yield. Analysts maintain a consensus “Hold” rating with a $32.96 price target.

Step Capital Management Pte. Ltd. raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 150.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,000 shares of the cable giant's stock after acquiring an additional 105,000 shares during the period. Comcast comprises about 0.9% of Step Capital Management Pte. Ltd.'s investment portfolio, making the stock its 11th largest position. Step Capital Management Pte. Ltd.'s holdings in Comcast were worth $4,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Allied Private Wealth LLC acquired a new stake in shares of Comcast during the 2nd quarter worth about $26,000. Imprint Wealth LLC acquired a new position in Comcast in the third quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Comcast during the fourth quarter worth about $27,000. Whipplewood Advisors LLC grew its stake in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after buying 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 approximately $27,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Down 0.6%

NASDAQ CMCSA opened at $26.49 on Friday. The stock has a market capitalization of $94.00 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. Comcast Corporation has a 52 week low of $21.28 and a 52 week high of $34.38. 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 stock has a fifty day moving average of $24.86 and a 200-day moving average of $26.49.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. Comcast's dividend payout ratio is presently 42.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on CMCSA. Scotiabank set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Freedom Capital upgraded Comcast to a "hold" rating in a research note on Friday, June 12th. Moffett Nathanson cut their price target on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Morgan Stanley set a $29.00 price target on shares of Comcast in a research report on Friday, July 24th. Finally, Barclays set a $26.00 price objective on shares of Comcast and gave the stock an "equal weight" rating in a report on Friday, July 24th. Eleven investment 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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