Investment Management Corp of Ontario Increases Position in Comcast Corporation $CMCSA

Investment Management Corp of Ontario lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 53.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,984 shares of the cable giant’s stock after acquiring an additional 120,986 shares during the quarter. Investment Management Corp of Ontario’s holdings in Comcast were worth $12,384,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CMCSA. Cranbrook Wealth Management LLC increased its position in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the last quarter. Avalon Trust Co increased its holdings in Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Comcast during the first quarter worth about $29,000. Finally, Howard Hughes Medical Institute bought a new stake in Comcast in the second quarter worth about $29,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 2.4%

Shares of CMCSA opened at $26.65 on Tuesday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $43.30. The stock has a market cap of $97.11 billion, a PE ratio of 4.43, a P/E/G ratio of 1.87 and a beta of 0.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $28.38 and its 200-day moving average price is $31.98.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. On average, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, January 14th. Comcast’s payout ratio is 21.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMCSA shares. Royal Bank Of Canada decreased their price target on shares of Comcast from $38.00 to $32.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Sanford C. Bernstein reduced their price objective on Comcast from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. BNP Paribas Exane raised Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 price target (down previously from $39.00) on shares of Comcast in a research note on Friday, October 31st. Eleven investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $35.82.

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.