1,293,693 Shares in Comcast Corporation $CMCSA Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,293,693 shares of the cable giant’s stock, valued at approximately $31,760,000.

A number of other institutional investors have also added to or reduced their stakes in CMCSA. Vanguard Group Inc. grew its holdings in Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after buying an additional 2,160,829 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of Comcast during the 4th quarter worth approximately $3,754,000. Inceptionr LLC bought a new position in shares of Comcast during the 1st quarter valued at approximately $660,000. Bank of America Corp DE grew its holdings in shares of Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of Comcast by 7.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock valued at $21,487,000 after purchasing an additional 62,671 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Comcast stock opened at $26.20 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $92.97 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. The firm has a 50-day moving average of $23.93 and a two-hundred day moving average of $26.84. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. On average, research analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the company an “underweight” rating in a research note on Friday, July 24th. Weiss Ratings cut shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group decreased their target price on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Scotiabank set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average price target of $32.96.

Comcast 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.