Weitz Investment Management Inc. Invests $1.15 Million in Comcast Corporation $CMCSA

Weitz Investment Management Inc. acquired a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,000 shares of the cable giant’s stock, valued at approximately $1,154,000.

Several other large investors have also bought and sold shares of the company. Allied Private Wealth LLC bought a new stake in Comcast in the second quarter worth about $26,000. Imprint Wealth LLC bought a new position in shares of Comcast during the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Comcast in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC grew its stake in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD bought a new stake in shares of Comcast in the 1st quarter worth approximately $27,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.6%

Shares of Comcast stock opened at $26.85 on Friday. The stock has a 50-day moving average price of $24.08 and a 200 day moving average price of $26.80. The company has a market cap of $95.28 billion, a P/E ratio of 8.69, a P/E/G ratio of 1.53 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, analysts expect that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Comcast’s payout ratio is presently 42.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Moffett Nathanson reduced their target price on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Royal Bank Of Canada set a $26.00 price target on Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. The Goldman Sachs Group cut their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Citigroup reduced their price objective on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Finally, New Street Research decreased their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.96.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.