Distillate Capital Partners LLC Buys 302,708 Shares of Comcast Corporation $CMCSA

Distillate Capital Partners LLC lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 32.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,230,956 shares of the cable giant’s stock after purchasing an additional 302,708 shares during the period. Comcast makes up about 2.0% of Distillate Capital Partners LLC’s holdings, making the stock its 7th biggest position. Distillate Capital Partners LLC’s holdings in Comcast were worth $38,307,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Cape Investment Advisory Inc. increased its stake in Comcast by 2.6% in the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after purchasing an additional 307 shares in the last quarter. Titleist Asset Management LLC lifted its stake in Comcast by 4.7% during the second quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock valued at $272,000 after buying an additional 342 shares in the last quarter. Lakeshore Capital Group Inc. boosted its holdings in shares of Comcast by 2.6% in the third quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after buying an additional 343 shares during the period. Hengehold Capital Management LLC increased its position in shares of Comcast by 0.5% in the third quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant’s stock worth $2,601,000 after acquiring an additional 372 shares in the last quarter. Finally, Commonwealth Financial Services LLC increased its position in shares of Comcast by 4.6% in the third quarter. Commonwealth Financial Services LLC now owns 8,429 shares of the cable giant’s stock worth $265,000 after acquiring an additional 372 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMCSA shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday, January 6th. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 target price for the company. in a report on Tuesday, February 24th. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and lifted their price target for the company from $31.00 to $37.00 in a report on Monday, January 12th. Finally, Scotiabank dropped their price target on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $34.87.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $30.16 on Monday. The firm has a fifty day moving average of $30.13 and a two-hundred day moving average of $29.82. The firm has a market capitalization of $108.51 billion, a P/E ratio of 5.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

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.