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

First Trust Advisors LP raised its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,592,149 shares of the cable giant’s stock after buying an additional 630,902 shares during the period. First Trust Advisors LP’s holdings in Comcast were worth $390,231,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Imprint Wealth LLC acquired a new stake in shares of Comcast during the 3rd quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast in the 4th quarter worth about $27,000. Whipplewood Advisors LLC raised its position in Comcast by 75.5% in 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 last quarter. Main Street Group LTD bought a new position in Comcast in the first quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Comcast during the fourth quarter valued at about $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Key Comcast News

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

Analyst Ratings Changes

CMCSA has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. UBS Group reissued a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Rosenblatt Securities upgraded shares of Comcast from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a report on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.45.

Comcast Trading Up 0.1%

CMCSA opened at $23.81 on Wednesday. Comcast Corporation has a twelve month low of $22.13 and a twelve month high of $36.01. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average of $23.96 and a 200-day moving average of $27.40. The stock has a market cap of $85.05 billion, a PE ratio of 4.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. On average, sell-side analysts predict that Comcast Corporation will post 3.48 EPS for the current year.

Comcast Announces Dividend

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

Comcast Company 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.