Permanens Capital L.P. Boosts Stock Position in Comcast Corporation $CMCSA

Permanens Capital L.P. raised its stake in Comcast Corporation (NASDAQ:CMCSA) by 95.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,131 shares of the cable giant’s stock after purchasing an additional 19,105 shares during the period. Comcast accounts for approximately 0.3% of Permanens Capital L.P.’s investment portfolio, making the stock its 26th largest holding. Permanens Capital L.P.’s holdings in Comcast were worth $1,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Nuveen LLC purchased a new position in Comcast in the first quarter valued at about $940,015,000. Dodge & Cox grew its stake in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Pacer Advisors Inc. grew its stake in Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after purchasing an additional 12,586,329 shares during the last quarter. KBC Group NV grew its stake in Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Comcast by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant’s stock valued at $1,326,912,000 after purchasing an additional 4,991,891 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.1%

Comcast stock opened at $33.91 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The company has a market capitalization of $125.20 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The stock has a 50-day moving average price of $34.03 and a 200 day moving average price of $34.69.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Comcast’s payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMCSA shares. Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Moffett Nathanson lifted their target price on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Barclays dropped their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Rothschild & Co Redburn dropped their price target on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Arete Research upgraded Comcast to a “hold” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.73.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.