Sumitomo Mitsui DS Asset Management Company Ltd Buys 21,622 Shares of Comcast Corporation $CMCSA

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Comcast Corporation by 4.6%, owning 486,647 shares valued at approximately $17.37 million.
• The company reported a 2.4% decline in stock price, with shares opening at $31.64 and a market cap of $116.82 billion.
• Comcast declared a quarterly dividend of $0.33 per share, representing an annual yield of 4.2%, set to be paid on October 22nd.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,647 shares of the cable giant's stock after purchasing an additional 21,622 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Comcast were worth $17,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new position in shares of Comcast during the 1st quarter worth about $26,000. Abound Financial LLC purchased a new stake in Comcast in the 1st quarter valued at about $29,000. Ransom Advisory Ltd purchased a new stake in Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC increased its stake in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares during the last quarter. Finally, Global Wealth Strategies & Associates increased its stake in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

NASDAQ:CMCSA traded down $0.05 during trading hours on Friday, hitting $31.59. The stock had a trading volume of 53,783,241 shares, compared to its average volume of 20,704,542. The company has a 50 day simple moving average of $33.45 and a two-hundred day simple moving average of $34.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The firm has a market capitalization of $116.64 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly 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. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period last year, the firm earned $1.21 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Sanford C. Bernstein decreased their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday, September 10th. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Comcast has an average rating of "Hold" and a consensus price target of $40.56.

Comcast Company Profile

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.