274,166 Shares in Comcast Corporation (NASDAQ:CMCSA) Bought by University of Texas Texas AM Investment Management Co.

Key Points

• The University of Texas Texas A&M Investment Management Co. purchased a new stake in Comcast Corporation worth approximately $10.12 million during the first quarter, making it the firm's 10th largest holding.
• Comcast reported $1.09 earnings per share for the last quarter, surpassing estimates, despite revenue showing a 0.6% year-over-year decline.
• Institutional investors own 84.32% of Comcast's stock, with several firms increasing their holdings significantly in the most recent quarter.

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 274,166 shares of the cable giant's stock, valued at approximately $10,117,000. Comcast accounts for approximately 1.7% of University of Texas Texas AM Investment Management Co.'s portfolio, making the stock its 10th largest position.

A number of other large investors also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast in the 1st quarter worth approximately $26,000. Abound Financial LLC purchased a new position in shares of Comcast in the first quarter worth $29,000. Retirement Wealth Solutions LLC raised its stake in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates raised its position in Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of several analyst reports. New Street Research reduced their price objective on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Citigroup reduced their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company lowered shares of Comcast from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Rosenblatt Securities increased their target price on shares of Comcast from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.13.

Comcast Trading Up 3.1%

Comcast stock traded up $1.00 during trading on Thursday, reaching $33.50. The company had a trading volume of 21,986,442 shares, compared to its average volume of 24,405,619. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The stock's 50 day moving average price is $34.86 and its two-hundred day moving average price is $35.16. The firm has a market capitalization of $125.07 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.59 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were given a $0.33 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.94%. Comcast's payout ratio is currently 32.43%.

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.