47,000 Shares in Comcast Corporation $CMCSA Bought by Weitz Investment Management Inc.

Weitz Investment Management Inc. acquired a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) in the second quarter, HoldingsChannel reports. The fund acquired 47,000 shares of the cable giant’s stock, valued at approximately $1,154,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Vanguard Group Inc. raised its position in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. North Dakota State Investment Board acquired a new stake in Comcast in the fourth quarter valued at approximately $3,754,000. Inceptionr LLC bought a new stake in Comcast in the first quarter worth approximately $660,000. Bank of America Corp DE grew its position in 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 worth $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its position in Comcast by 7.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock worth $21,487,000 after acquiring an additional 62,671 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CMCSA shares. Morgan Stanley set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 price objective on shares of Comcast in a report on Monday, July 13th. Barclays set a $26.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday, July 24th. New Street Research reduced their price target on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Finally, Freedom Capital upgraded Comcast to a “hold” rating in a research note on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.96.

Comcast Stock Performance

NASDAQ CMCSA opened at $26.85 on Friday. The company’s fifty day moving average is $24.08 and its two-hundred day moving average is $26.80. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. 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 firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 1.53 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that Comcast Corporation will post 3.52 EPS 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 given a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

About Comcast

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.