Great Lakes Advisors LLC Acquires Shares of 89,155 Comcast Corporation $CMCSA

Great Lakes Advisors LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 89,155 shares of the cable giant’s stock, valued at approximately $2,189,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allied Private Wealth LLC acquired a new position in Comcast in the 2nd quarter valued at about $26,000. Imprint Wealth LLC acquired a new stake in Comcast during the third quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC boosted its holdings in shares of Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after acquiring an additional 401 shares during the period. Finally, Main Street Group LTD bought a new stake in shares of Comcast during the first quarter worth approximately $27,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent research reports. Barclays set a $26.00 target price on Comcast and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Weiss Ratings downgraded Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Evercore upped their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Finally, New Street Research dropped their target price on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus target price of $32.96.

Comcast Price Performance

CMCSA stock opened at $26.85 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45. The firm has a market cap of $95.28 billion, a P/E ratio of 8.69, a P/E/G ratio of 1.50 and a beta of 0.67. The company’s 50-day moving average price is $24.08 and its two-hundred day moving average price is $26.80.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS 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 company had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the company earned $1.25 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current fiscal 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, October 7th. Comcast’s payout ratio is currently 42.72%.

Comcast Company 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.