Letko Brosseau & Associates Inc. Purchases 11,230 Shares of Comcast Corporation $CMCSA

Letko Brosseau & Associates Inc. boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,827,581 shares of the cable giant’s stock after buying an additional 11,230 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Comcast were worth $65,226,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. boosted its stake in Comcast by 13.0% in the second quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock valued at $25,867,000 after acquiring an additional 83,631 shares during the last quarter. Advisor OS LLC raised its position in shares of Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after acquiring an additional 8,841 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Comcast by 5.4% in the 2nd quarter. Aberdeen Group plc now owns 2,889,947 shares of the cable giant’s stock valued at $103,142,000 after purchasing an additional 147,231 shares during the period. Penserra Capital Management LLC boosted its position in shares of Comcast by 20.0% in the 2nd quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock worth $2,928,000 after purchasing an additional 13,653 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in shares of Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after purchasing an additional 118,839 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cowen reissued a “buy” rating on shares of Comcast in a research note on Friday, October 31st. Scotiabank lowered their price target on Comcast from $45.50 to $41.50 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Pivotal Research cut their price target on shares of Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group restated a “neutral” rating and set a $30.00 price objective (down previously from $39.00) on shares of Comcast in a report on Friday, October 31st. Finally, Bank of America lowered their target price on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $36.12.

Comcast Price Performance

Shares of CMCSA opened at $27.51 on Friday. The stock has a 50 day simple moving average of $30.12 and a 200 day simple moving average of $32.87. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $44.03. 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 firm has a market capitalization of $100.24 billion, a PE ratio of 4.58, a P/E/G ratio of 1.79 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s payout ratio is currently 21.96%.

Comcast Company 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.