Arlington Partners LLC raised its stake in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 170.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,281 shares of the cable giant's stock after purchasing an additional 3,331 shares during the quarter. Arlington Partners LLC's holdings in Comcast were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Norges Bank bought a new position in shares of Comcast in the fourth quarter valued at approximately $2,507,025,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Comcast by 62.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant's stock valued at $715,028,000 after acquiring an additional 5,880,050 shares during the last quarter. SRS Investment Management LLC raised its stake in shares of Comcast by 162.9% in the fourth quarter. SRS Investment Management LLC now owns 7,187,614 shares of the cable giant's stock valued at $361,753,000 after acquiring an additional 4,454,106 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Comcast by 535.8% in the first quarter. Renaissance Technologies LLC now owns 4,754,976 shares of the cable giant's stock valued at $222,628,000 after acquiring an additional 4,007,100 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Comcast by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 399,364,773 shares of the cable giant's stock worth $18,698,259,000 after purchasing an additional 2,751,429 shares during the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Comcast from $42.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, September 29th. Raymond James restated a "hold" rating on shares of Comcast in a research report on Friday, July 8th. TheStreet lowered shares of Comcast from a "b-" rating to a "c+" rating in a report on Friday, July 29th. Macquarie lowered shares of Comcast from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $40.00 to $33.00 in a report on Friday, July 29th. Finally, Credit Suisse Group lowered their target price on shares of Comcast from $57.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $48.48.
Comcast Stock Down 1.7 %
NASDAQ:CMCSA traded down $0.52 on Wednesday, hitting $30.47. 961,613 shares of the company's stock were exchanged, compared to its average volume of 31,886,908. The firm has a 50-day moving average price of $35.95 and a 200-day moving average price of $40.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Co. has a 52 week low of $29.28 and a 52 week high of $57.96. The company has a market cap of $134.47 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 0.64 and a beta of 0.97.
Comcast (NASDAQ:CMCSA – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $30.02 billion for the quarter, compared to analysts' expectations of $29.72 billion. Comcast had a net margin of 11.54% and a return on equity of 16.67%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, analysts expect that Comcast Co. will post 3.62 EPS for the current fiscal year.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.08 annualized dividend and a yield of 3.54%. Comcast's dividend payout ratio is currently 35.29%.
About Comcast
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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