Hennessy Advisors Inc. raised its stake in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 45.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 303,558 shares of the cable giant’s stock after buying an additional 94,458 shares during the quarter. Hennessy Advisors Inc.’s holdings in Comcast were worth $7,452,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Comcast in the 4th quarter valued at about $2,498,626,000. Capital World Investors raised its position in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares during the period. Capital Research Global Investors boosted its stake in Comcast by 65.1% during the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after acquiring an additional 21,958,603 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Comcast by 824.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after acquiring an additional 10,359,800 shares during the last quarter. Finally, State Street Corp grew its holdings in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after purchasing an additional 7,917,335 shares during the period. Institutional investors own 84.32% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $31.00 target price on shares of Comcast in a research note on Friday, July 24th. UBS Group reissued a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Scotiabank set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $32.96.
Comcast Price Performance
NASDAQ CMCSA opened at $26.19 on Friday. The business has a 50 day simple moving average of $23.85 and a 200 day simple moving average of $26.89. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. 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 market cap of $92.94 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.49 and a beta of 0.67.
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.
Comcast Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.
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.
Featured Stories
- Five stocks we like better than Comcast
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
- Sandisk’s Margins Look Like Software. Can They Last?
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA – Free Report).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.
