Second Line Capital LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Second Line Capital LLC purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 5,502 shares of the cable giant’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Capital World Investors increased its holdings in Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of Comcast by 25,881.7% during 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 buying an additional 10,809,231 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after acquiring an additional 4,714,586 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after acquiring an additional 4,182,525 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CMCSA. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. The Goldman Sachs Group started coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. Pivotal Research lowered their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, KeyCorp reduced their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.58.

Comcast Stock Up 1.5 %

Shares of Comcast stock opened at $41.64 on Monday. The company has a 50-day simple moving average of $39.69 and a two-hundred day simple moving average of $39.57. The stock has a market capitalization of $163.38 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. On average, analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is 32.80%.

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.