Prudential PLC Has $7.66 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Prudential PLC increased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,629 shares of the cable giant’s stock after purchasing an additional 40,379 shares during the period. Prudential PLC’s holdings in Comcast were worth $7,661,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Comcast in the fourth quarter worth $2,542,988,000. Capital World Investors boosted its holdings in Comcast by 17.0% in the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Comcast by 80.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after purchasing an additional 4,714,586 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.3 %

CMCSA stock opened at $39.72 on Tuesday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $39.80. The stock has a market capitalization of $153.82 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.05 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the business earned $1.13 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.12%. Comcast’s payout ratio is 32.80%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMCSA shares. Macquarie reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Barclays reduced their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. KeyCorp decreased their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.78.

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.