Conning Inc. Buys 7,476 Shares of Comcast Corporation $CMCSA

Conning Inc. raised its stake in Comcast Corporation (NASDAQ:CMCSA) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,013,786 shares of the cable giant’s stock after acquiring an additional 7,476 shares during the quarter. Comcast makes up approximately 1.2% of Conning Inc.’s investment portfolio, making the stock its 19th largest position. Conning Inc.’s holdings in Comcast were worth $36,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dodge & Cox lifted its holdings in shares of Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after acquiring an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 926,663 shares during the last quarter. Nuveen LLC bought a new position in Comcast in the 1st quarter valued at approximately $940,015,000. Harris Associates L P raised its holdings 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 valued at $759,938,000 after buying an additional 111,662 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Comcast by 2.2% in the 1st quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock valued at $746,980,000 after buying an additional 427,705 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CMCSA shares. Benchmark reiterated a “buy” rating on shares of Comcast in a report on Friday, July 18th. UBS Group set a $43.00 price objective on shares of Comcast in a report on Friday, October 3rd. Barclays dropped their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Loop Capital dropped their price objective on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Finally, Morgan Stanley set a $35.00 price objective on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.94.

Comcast Stock Down 2.1%

Comcast stock opened at $29.46 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a 52-week low of $29.42 and a 52-week high of $45.31. The firm has a 50 day moving average price of $32.48 and a two-hundred day moving average price of $33.95. The firm has a market cap of $108.77 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 1.78 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. Comcast’s dividend payout ratio (DPR) is 21.82%.

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.