325,235 Shares in Comcast Corporation $CMCSA Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in Comcast Corporation (NASDAQ:CMCSA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 325,235 shares of the cable giant’s stock, valued at approximately $9,337,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Norges Bank bought a new position in shares of Comcast in the fourth quarter worth approximately $2,498,626,000. Capital World Investors raised its stake in Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Capital Research Global Investors lifted its position in Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after purchasing an additional 21,958,603 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Comcast by 824.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after purchasing an additional 10,359,800 shares during the last quarter. Finally, State Street Corp grew its stake in Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CMCSA shares. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the stock an “underweight” rating in a report on Friday, July 24th. UBS Group reiterated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Morgan Stanley set a $29.00 target price on shares of Comcast in a research report on Friday, July 24th. Sanford C. Bernstein reissued a “market perform” rating and issued a $28.00 target price on shares of Comcast in a research note on Monday, July 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $31.00 price target on shares of Comcast 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.96.

Comcast Trading Up 1.7%

CMCSA stock opened at $24.61 on Thursday. The company has a market capitalization of $87.91 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The company’s 50 day moving average price is $23.75 and its two-hundred day moving average price is $27.17.

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, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm 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. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio is presently 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.