Cornerstone Advisors LLC Raises Holdings in Comcast Corporation $CMCSA

Cornerstone Advisors LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,100 shares of the cable giant’s stock after acquiring an additional 48,700 shares during the quarter. Cornerstone Advisors LLC’s holdings in Comcast were worth $9,604,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Dodge & Cox increased its stake in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Comcast by 1.4% during the second quarter. First Eagle Investment Management LLC now owns 35,905,236 shares of the cable giant’s stock valued at $1,281,458,000 after buying an additional 490,923 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comcast by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock valued at $1,240,955,000 after acquiring an additional 926,663 shares during the period. Nuveen LLC acquired a new position in shares of Comcast in the 1st quarter valued at $940,015,000. Finally, Harris Associates L P raised its stake in Comcast by 0.5% in the 1st quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after acquiring an additional 111,662 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMCSA. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Bank of America cut their price target on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Tuesday, November 4th. TD Cowen dropped their price objective on shares of Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Evercore ISI reduced their target price on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.12.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $27.51 on Friday. The company has a market capitalization of $100.24 billion, a PE ratio of 4.58, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The company’s fifty day moving average price is $30.12 and its 200 day moving average price is $32.87. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $44.03.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business had revenue of $30.34 billion during the quarter. On average, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. Comcast’s dividend payout ratio is currently 21.96%.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.