Brandes Investment Partners LP Acquires 540,883 Shares of Comcast Co. (CMCSA)
Brandes Investment Partners LP lifted its holdings in Comcast Co. (NASDAQ:CMCSA) by 313.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 713,178 shares of the cable giant’s stock after purchasing an additional 540,883 shares during the period. Brandes Investment Partners LP’s holdings in Comcast were worth $23,399,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Argent Trust Co increased its holdings in Comcast by 16.7% in the 4th quarter. Argent Trust Co now owns 30,805 shares of the cable giant’s stock worth $1,234,000 after acquiring an additional 4,417 shares in the last quarter. SeaTown Holdings Pte. Ltd. purchased a new stake in Comcast in the 1st quarter worth approximately $33,927,000. Boston Partners increased its holdings in Comcast by 1.3% in the 1st quarter. Boston Partners now owns 18,428,357 shares of the cable giant’s stock worth $629,697,000 after acquiring an additional 232,276 shares in the last quarter. Olstein Capital Management L.P. increased its holdings in Comcast by 38.4% in the 1st quarter. Olstein Capital Management L.P. now owns 263,000 shares of the cable giant’s stock worth $8,987,000 after acquiring an additional 73,000 shares in the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV increased its holdings in Comcast by 5.2% in the 1st quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 54,818 shares of the cable giant’s stock worth $1,873,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.
NASDAQ CMCSA opened at $36.17 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The company has a market cap of $166.83 billion, a PE ratio of 17.56, a PEG ratio of 1.15 and a beta of 1.20. Comcast Co. has a one year low of $30.43 and a one year high of $44.00.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.10%. Comcast’s dividend payout ratio is currently 36.89%.
A number of equities research analysts have issued reports on the stock. Pivotal Research reaffirmed a “buy” rating on shares of Comcast in a report on Friday, August 10th. Atlantic Securities raised shares of Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Monday, August 6th. Robert W. Baird cut their price objective on shares of Comcast from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, July 30th. Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. Finally, BidaskClub raised shares of Comcast from a “sell” rating to a “hold” rating in a report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.79.
In other news, SVP Daniel C. Murdock sold 1,694 shares of the stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total transaction of $52,598.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.31% of the stock is currently owned by corporate insiders.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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