Diamond Hill Capital Management Inc. lifted its position in Comcast Co. (NASDAQ:CMCSA) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,263,967 shares of the cable giant’s stock after buying an additional 76,489 shares during the period. Comcast accounts for 1.4% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 26th biggest position. Diamond Hill Capital Management Inc.’s holdings in Comcast were worth $271,141,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CMCSA. Findlay Park Partners LLP grew its stake in Comcast by 25.7% in the second quarter. Findlay Park Partners LLP now owns 6,503,457 shares of the cable giant’s stock valued at $213,378,000 after purchasing an additional 1,327,822 shares during the last quarter. Van Hulzen Asset Management LLC grew its stake in Comcast by 41.4% in the second quarter. Van Hulzen Asset Management LLC now owns 159,558 shares of the cable giant’s stock valued at $5,235,000 after purchasing an additional 46,722 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its stake in Comcast by 16.8% in the second quarter. Guyasuta Investment Advisors Inc. now owns 420,616 shares of the cable giant’s stock valued at $13,800,000 after purchasing an additional 60,427 shares during the last quarter. BBT Capital Management LLC purchased a new position in Comcast in the second quarter valued at about $5,906,000. Finally, Levin Capital Strategies L.P. grew its stake in Comcast by 39.2% in the second quarter. Levin Capital Strategies L.P. now owns 2,519,383 shares of the cable giant’s stock valued at $82,661,000 after purchasing an additional 708,861 shares during the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.
Several equities analysts have issued reports on CMCSA shares. TD Securities cut their target price on Comcast from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, April 26th. KeyCorp started coverage on Comcast in a research note on Wednesday, May 16th. They issued a “buy” rating and a $38.00 target price on the stock. They noted that the move was a valuation call. Pivotal Research reiterated a “buy” rating and issued a $45.00 target price on shares of Comcast in a research note on Tuesday, June 26th. Jefferies Financial Group started coverage on Comcast in a research note on Thursday, June 7th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Macquarie reiterated a “hold” rating and issued a $38.00 target price on shares of Comcast in a research note on Sunday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Comcast has a consensus rating of “Buy” and an average price target of $45.79.
In related news, SVP Daniel C. Murdock sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total value of $52,598.70. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.31% of the stock is owned by corporate insiders.
Shares of CMCSA stock opened at $35.43 on Tuesday. Comcast Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.00. The stock has a market cap of $165.34 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 26th. The cable giant reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.85 billion. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. sell-side analysts predict that Comcast Co. will post 2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 2.15%. Comcast’s dividend payout ratio is currently 36.89%.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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