Madison Asset Management LLC Invests $2.95 Million in Comcast Corporation $CMCSA

Madison Asset Management LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) during the second quarter, Holdings Channel reports. The firm purchased 120,300 shares of the cable giant’s stock, valued at approximately $2,953,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. raised its holdings in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares in the last quarter. United Bank raised its holdings in shares of Comcast by 11.3% during the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC boosted its stake in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after buying an additional 15,865 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of several research analyst reports. New Street Research lowered their target price on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Sanford C. Bernstein restated a “market perform” rating and issued a $28.00 price target on shares of Comcast in a research note on Monday, July 13th. Moffett Nathanson decreased their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Freedom Capital raised shares of Comcast to a “hold” rating in a report on Friday, June 12th. Finally, Barclays set a $26.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.96.

Comcast Stock Performance

Shares of CMCSA stock opened at $26.42 on Friday. The stock has a market capitalization of $93.76 billion, a PE ratio of 8.55, a PEG ratio of 1.51 and a beta of 0.67. The business’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $26.80. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. As a group, research analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast’s dividend payout ratio is 42.72%.

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.