Great Lakes Advisors LLC Takes $31.76 Million Position in Comcast Corporation $CMCSA

Great Lakes Advisors LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,293,693 shares of the cable giant’s stock, valued at approximately $31,760,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allied Private Wealth LLC purchased a new position in Comcast during the second quarter valued at approximately $26,000. Imprint Wealth LLC purchased a new stake in Comcast during the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Comcast during the 4th quarter valued at $27,000. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Finally, Main Street Group LTD bought a new position in shares of Comcast in the 1st quarter worth $27,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Up 2.5%

NASDAQ CMCSA opened at $26.20 on Wednesday. The company has a fifty day simple moving average of $23.93 and a two-hundred day simple moving average of $26.84. The stock has a market cap of $92.97 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.49 and a beta of 0.67. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping 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 business had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. Comcast’s payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMCSA. Citigroup decreased their price objective on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $31.00 target price on shares of Comcast in a report on Friday, July 24th. The Goldman Sachs Group decreased their price target on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Freedom Capital raised shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $32.96.

Comcast 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.