Plato Investment Management Ltd Makes New Investment in Comcast Corporation $CMCSA

Plato Investment Management Ltd acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 271,166 shares of the cable giant’s stock, valued at approximately $6,618,000.

Several other large investors also recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new stake in shares of Comcast during the 2nd quarter valued at about $26,000. Imprint Wealth LLC purchased a new position in Comcast in the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares during the period. Finally, Main Street Group LTD purchased a new stake in shares of Comcast during the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CMCSA. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Seaport Research Partners upgraded shares of Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Moffett Nathanson cut 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. Sanford C. Bernstein reiterated a “market perform” rating and set a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Finally, Barclays set a $26.00 target price on shares of Comcast and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.96.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $26.19 on Monday. Comcast Corporation has a twelve month low of $21.28 and a twelve 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. The company has a market capitalization of $92.94 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. The business has a 50 day simple moving average of $23.85 and a 200-day simple moving average of $26.88.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. As a group, equities research analysts expect that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued 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 of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio is 42.72%.

About Comcast

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.