OLD National Bancorp IN increased its stake in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 149.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,307 shares of the cable giant's stock after acquiring an additional 63,142 shares during the period. OLD National Bancorp IN's holdings in Comcast were worth $4,132,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bristlecone Advisors LLC raised its holdings in Comcast by 3.9% during the 2nd quarter. Bristlecone Advisors LLC now owns 53,514 shares of the cable giant's stock valued at $2,100,000 after buying an additional 1,994 shares during the last quarter. Meritage Portfolio Management raised its stake in shares of Comcast by 1.4% during the second quarter. Meritage Portfolio Management now owns 98,800 shares of the cable giant's stock valued at $3,877,000 after acquiring an additional 1,362 shares during the last quarter. FirstPurpose Wealth LLC raised its stake in shares of Comcast by 12.4% during the second quarter. FirstPurpose Wealth LLC now owns 6,586 shares of the cable giant's stock valued at $258,000 after acquiring an additional 727 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in shares of Comcast by 11.1% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 6,413 shares of the cable giant's stock worth $252,000 after purchasing an additional 641 shares during the period. Finally, SignalPoint Asset Management LLC grew its stake in shares of Comcast by 5.6% in the second quarter. SignalPoint Asset Management LLC now owns 8,573 shares of the cable giant's stock worth $336,000 after purchasing an additional 451 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of CMCSA stock opened at $30.74 on Thursday. The company's fifty day simple moving average is $35.70 and its two-hundred day simple moving average is $40.38. Comcast Co. has a 52 week low of $29.28 and a 52 week high of $57.96. The stock has a market cap of $135.66 billion, a P/E ratio of 10.05, a PEG ratio of 0.64 and a beta of 0.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.
Comcast (NASDAQ:CMCSA – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The cable giant reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The business had revenue of $30.02 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Comcast Co. will post 3.62 EPS for the current fiscal year.Comcast Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders 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 dividend yield of 3.51%. Comcast's dividend payout ratio is currently 35.29%.
Analysts Set New Price Targets
A number of brokerages have issued reports on CMCSA. Cowen reduced their price objective on shares of Comcast from $60.00 to $51.00 in a research report on Friday, July 29th. TheStreet cut Comcast from a "b-" rating to a "c+" rating in a research note on Friday, July 29th. Pivotal Research reduced their price target on Comcast from $55.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, July 29th. Barclays lowered their price objective on Comcast from $42.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, September 29th. Finally, Redburn Partners downgraded shares of Comcast from a "buy" rating to a "neutral" rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $48.48.
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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