The Manufacturers Life Insurance Company Raises Stock Position in Comcast Corporation $CMCSA

Key Points

• The Manufacturers Life Insurance Company increased its stake in Comcast Corporation by 76.6%, acquiring an additional 4,096,382 shares, bringing its total ownership to approximately 0.25% valued at $348.4 million.
• Comcast has received various ratings from analysts, with the average consensus rating being Hold and a consensus price target of $40.73.
• The company recently announced a quarterly dividend of $0.33 per share, payable on October 22nd, representing an annualized yield of 3.9% with a payout ratio of 21.82%.

The Manufacturers Life Insurance Company increased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 76.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,440,738 shares of the cable giant's stock after buying an additional 4,096,382 shares during the period. The Manufacturers Life Insurance Company owned 0.25% of Comcast worth $348,363,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in shares of Comcast in the 1st quarter valued at about $26,000. Abound Financial LLC acquired a new position in Comcast during the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC boosted its stake in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Comcast during the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates boosted its stake in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCSA has been the topic of a number of research analyst reports. UBS Group cut their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. 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 report on Monday, August 4th. Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Rothschild & Co Redburn lowered their price target on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. 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 report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.73.

Comcast Trading Up 0.5%

NASDAQ CMCSA traded up $0.16 during trading on Tuesday, hitting $34.13. 20,158,075 shares of the company's stock traded hands, compared to its average volume of 24,098,107. The stock has a fifty day moving average of $34.12 and a two-hundred day moving average of $34.73. 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 12-month low of $31.03 and a 12-month high of $45.31. The firm has a market cap of $126.02 billion, a P/E ratio of 5.64, a PEG ratio of 2.03 and a beta of 0.93.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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.