Comcast Co. (CMCSA) Position Raised by Summit X LLC

Summit X LLC boosted its stake in Comcast Co. (NASDAQ:CMCSA) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,198 shares of the cable giant’s stock after purchasing an additional 3,261 shares during the quarter. Summit X LLC’s holdings in Comcast were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. BlackRock Inc. raised its stake in shares of Comcast by 2.5% during the first quarter. BlackRock Inc. now owns 323,455,630 shares of the cable giant’s stock worth $11,052,476,000 after acquiring an additional 7,922,120 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Comcast by 9.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock worth $4,864,907,000 after acquiring an additional 12,823,994 shares in the last quarter. FMR LLC raised its stake in shares of Comcast by 7.5% during the second quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock worth $3,669,961,000 after acquiring an additional 7,812,415 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Comcast by 24.1% during the first quarter. Franklin Resources Inc. now owns 37,387,405 shares of the cable giant’s stock worth $1,277,535,000 after acquiring an additional 7,257,371 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Comcast by 108.8% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock worth $1,158,311,000 after acquiring an additional 17,663,290 shares in the last quarter. 80.10% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. UBS Group downgraded shares of Comcast from an “outperform” rating to a “market perform” rating in a research note on Monday. Pivotal Research restated a “buy” rating and issued a $48.00 target price on shares of Comcast in a report on Thursday. ValuEngine upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a report on Monday, September 17th. Atlantic Securities upgraded shares of Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a report on Monday, August 6th. Finally, Robert W. Baird cut their price target on shares of Comcast from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.79.

NASDAQ CMCSA opened at $37.90 on Monday. Comcast Co. has a 52 week low of $30.43 and a 52 week high of $44.00. The stock has a market cap of $176.03 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 26th. The cable giant reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.85 billion. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. sell-side analysts forecast that Comcast Co. will post 2.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.01%. Comcast’s dividend payout ratio (DPR) is presently 36.89%.

About Comcast

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.

Further Reading: What Is An Exchange-Traded Fund (ETF)?

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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