Weitz Investment Management Inc. Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Weitz Investment Management Inc. reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 560,000 shares of the cable giant’s stock after selling 50,000 shares during the period. Comcast makes up 1.3% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding. Weitz Investment Management Inc.’s holdings in Comcast were worth $31,931,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Blume Capital Management Inc. boosted its holdings in shares of Comcast by 1.1% in the second quarter. Blume Capital Management Inc. now owns 193,027 shares of the cable giant’s stock valued at $11,006,000 after acquiring an additional 2,105 shares in the last quarter. National Asset Management Inc. boosted its holdings in shares of Comcast by 10.8% in the second quarter. National Asset Management Inc. now owns 125,190 shares of the cable giant’s stock valued at $7,114,000 after acquiring an additional 12,215 shares in the last quarter. Midwest Professional Planners LTD. boosted its holdings in shares of Comcast by 13.9% in the second quarter. Midwest Professional Planners LTD. now owns 14,969 shares of the cable giant’s stock valued at $854,000 after acquiring an additional 1,829 shares in the last quarter. One Charles Private Wealth Services LLC purchased a new stake in shares of Comcast in the second quarter valued at about $276,000. Finally, River Road Asset Management LLC boosted its holdings in shares of Comcast by 20.4% in the second quarter. River Road Asset Management LLC now owns 4,180,908 shares of the cable giant’s stock valued at $238,395,000 after acquiring an additional 709,074 shares in the last quarter. 82.49% of the stock is currently owned by institutional investors.

Several analysts recently commented on CMCSA shares. Benchmark raised their price objective on shares of Comcast from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 12th. HSBC raised their price objective on shares of Comcast from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 24th. TD Securities raised their price objective on shares of Comcast from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Pivotal Research lifted their target price on shares of Comcast from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Comcast from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. One research analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $64.93.

CMCSA traded up $0.73 during trading on Wednesday, hitting $56.32. 825,046 shares of the company’s stock were exchanged, compared to its average volume of 16,353,840. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.04. Comcast Co. has a 1 year low of $40.97 and a 1 year high of $61.80. The stock has a 50 day moving average price of $58.89 and a 200 day moving average price of $57.00. The firm has a market cap of $258.49 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.17. The business had revenue of $28.55 billion for the quarter, compared to analysts’ expectations of $27.14 billion. Comcast had a net margin of 11.44% and a return on equity of 14.15%. Analysts forecast that Comcast Co. will post 3.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Wednesday, October 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. Comcast’s dividend payout ratio (DPR) is 38.31%.

About Comcast

Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

Read More: Cost of Goods Sold (COGS)

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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