Harbor Island Capital LLC Buys 69,130 Shares of Comcast Corporation $CMCSA

Harbor Island Capital LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 14.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 549,531 shares of the cable giant’s stock after acquiring an additional 69,130 shares during the quarter. Comcast accounts for about 3.6% of Harbor Island Capital LLC’s investment portfolio, making the stock its 12th largest holding. Harbor Island Capital LLC’s holdings in Comcast were worth $13,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CMCSA. North Dakota State Investment Board purchased a new stake in shares of Comcast during the 4th quarter valued at about $3,754,000. Inceptionr LLC bought a new position in shares of Comcast in the 1st quarter worth approximately $660,000. Bank of America Corp DE boosted 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 worth $1,173,232,000 after buying an additional 3,783,234 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab grew its position in Comcast by 7.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock valued at $21,487,000 after buying an additional 62,671 shares during the period. Finally, Axxcess Wealth Management LLC increased its holdings in Comcast by 53.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after buying an additional 72,129 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMCSA shares. Moffett Nathanson dropped their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Barclays set a $26.00 price objective on Comcast and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and decreased their target price for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Wells Fargo & Company set a $23.00 price target on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, UBS Group restated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. 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 stock. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $32.96.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $26.30 on Wednesday. The firm has a fifty day moving average price of $24.63 and a 200-day moving average price of $26.56. 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 $93.33 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Equities analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. 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.