Manning & Napier Advisors LLC Purchases Shares of 290,215 Comcast Corporation $CMCSA

Manning & Napier Advisors LLC acquired a new position in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, HoldingsChannel reports. The firm acquired 290,215 shares of the cable giant’s stock, valued at approximately $7,125,000.

Several other hedge funds have also recently made changes to their positions in CMCSA. North Dakota State Investment Board purchased a new position in shares of Comcast in the 4th quarter valued at approximately $3,754,000. Inceptionr LLC purchased a new position in Comcast during the first quarter valued at $660,000. Bank of America Corp DE lifted its position in Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after buying an additional 3,783,234 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of Comcast by 7.7% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 875,247 shares of the cable giant’s stock valued at $21,487,000 after buying an additional 62,671 shares in the last quarter. Finally, Vest Financial LLC grew its position in shares of Comcast by 72.1% in the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock worth $6,961,000 after buying an additional 97,601 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

NASDAQ CMCSA opened at $27.02 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45. The stock has a market cap of $95.88 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.53 and a beta of 0.67. The company’s 50 day moving average is $24.14 and its two-hundred day moving average is $26.76.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, research analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Announces Dividend

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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio is presently 42.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group reiterated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. New Street Research reduced their price objective on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company set a $23.00 target price on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.96.

Comcast 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.