Morningstar Investment Management LLC Purchases 45,926 Shares of Comcast Corporation $CMCSA

Morningstar Investment Management LLC increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 24.9% during the second quarter, HoldingsChannel reports. The fund owned 230,556 shares of the cable giant’s stock after buying an additional 45,926 shares during the quarter. Comcast comprises about 0.7% of Morningstar Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Morningstar Investment Management LLC’s holdings in Comcast were worth $8,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Nuveen LLC bought a new stake in shares of Comcast in the 1st quarter valued at about $940,015,000. Dodge & Cox grew its position in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after buying an additional 15,115,074 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after buying an additional 12,586,329 shares during the last quarter. KBC Group NV grew its position in shares of Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after buying an additional 8,928,641 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Comcast by 119.1% in the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock valued at $280,238,000 after buying an additional 4,128,434 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.2%

Shares of NASDAQ:CMCSA opened at $29.41 on Tuesday. The company has a market capitalization of $108.59 billion, a price-to-earnings ratio of 4.86, a P/E/G ratio of 1.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day moving average is $32.42 and its 200-day moving average is $33.85. Comcast Corporation has a 1 year low of $29.39 and a 1 year high of $45.31.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CMCSA. KeyCorp reduced their price target on Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Moffett Nathanson upped their price target on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Comcast in a research report on Saturday, September 27th. UBS Group set a $43.00 price objective on Comcast in a research note on Friday, October 3rd. Finally, Bank of America dropped their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.94.

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.