First Trust Advisors LP Purchases 630,902 Shares of Comcast Corporation $CMCSA

First Trust Advisors LP increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,592,149 shares of the cable giant’s stock after purchasing an additional 630,902 shares during the period. First Trust Advisors LP owned approximately 0.38% of Comcast worth $390,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased 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 worth $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. boosted its holdings in Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after purchasing an additional 2,593 shares during the period. United Bank grew its position 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 purchasing an additional 4,290 shares in the last quarter. HUB Investment Partners LLC grew its position in shares of Comcast by 119.4% during the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after purchasing an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after purchasing an additional 15,865 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMCSA. Morgan Stanley dropped their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. UBS Group restated a “neutral” rating on shares of Comcast in a research note on Tuesday, June 23rd. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Monday, July 6th. Finally, Wells Fargo & Company decreased their price target on Comcast from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $33.45.

Comcast Stock Up 0.1%

Shares of CMCSA opened at $23.81 on Wednesday. Comcast Corporation has a one year low of $22.13 and a one year high of $36.01. The company has a market cap of $85.05 billion, a P/E ratio of 4.69, a P/E/G ratio of 1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $23.96 and a two-hundred day simple moving average of $27.40.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Comcast Corporation will post 3.48 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Universal Pictures’ The Odyssey delivered a strong global opening, highlighting a bright spot for Comcast’s media business and showing that the company can still produce major box-office hits. Article: Comcast’s Universal Pictures Nets $264.1 Million Global Opening for ‘The Odyssey’
• Positive Sentiment: The film’s strong premium-theater performance and IMAX-related enthusiasm suggest some support for Comcast’s entertainment segment and broader recovery hopes. Article: IMAX, CMCSA Rise Premarket: Christopher Nolan’s ‘The Odyssey’ Notches Epic Box Office Opening
• Neutral Sentiment: Analysts are focusing on Comcast’s Q2 report for signs of stabilization in broadband, media, and theme parks, with investors waiting to see whether core business pressures are easing. Article: Comcast Gears Up to Report Q2 Earnings: What’s in the Cards?
• Neutral Sentiment: Comcast is also getting broader market attention, but this appears to be more of a visibility story than a fundamental shift. Article: Comcast (NASDAQ:CMCSA) Draws Fresh Nasdaq Composite Attention
• Negative Sentiment: Comcast’s broadband business remains under pressure and is the main reason investors are not rewarding the stock more for the movie success, since it is still seen as the key earnings risk ahead of results. Article: Why ‘The Odyssey’ Box Office Success Isn’t Lifting Comcast Stock
• Negative Sentiment: Royal Bank of Canada cut its price target on CMCSA from $32 to $27, signaling more cautious expectations for the stock even while maintaining a sector perform rating. Article: Comcast price target lowered by Royal Bank Of Canada

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.