DoubleLine ETF Adviser LP Boosts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

DoubleLine ETF Adviser LP raised its stake in Comcast Co. (NASDAQ:CMCSA) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,688 shares of the cable giant’s stock after purchasing an additional 4,687 shares during the quarter. Comcast comprises approximately 1.0% of DoubleLine ETF Adviser LP’s holdings, making the stock its 25th biggest holding. DoubleLine ETF Adviser LP’s holdings in Comcast were worth $3,747,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Steph & Co. lifted its position in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the second quarter valued at approximately $27,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the fourth quarter worth $28,000. Finally, IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 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 $40.59 on Thursday. The firm has a market capitalization of $157.18 billion, a PE ratio of 10.74, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company’s 50 day simple moving average is $39.64 and its 200 day simple moving average is $39.61.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, equities research analysts forecast 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. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.05%. Comcast’s payout ratio is currently 32.80%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group started coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $45.58.

About Comcast

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.