Distillate Capital Partners LLC Acquires 302,708 Shares of Comcast Corporation $CMCSA

Distillate Capital Partners LLC grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 32.6% during the third quarter, Holdings Channel reports. The firm owned 1,230,956 shares of the cable giant’s stock after purchasing an additional 302,708 shares during the period. Comcast accounts for about 2.0% of Distillate Capital Partners LLC’s portfolio, making the stock its 7th largest position. Distillate Capital Partners LLC’s holdings in Comcast were worth $38,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMCSA. Capital A Wealth Management LLC increased its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after buying an additional 436 shares during the last quarter. Imprint Wealth LLC acquired a new stake in shares of Comcast in the third quarter worth about $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the third quarter worth about $28,000. Howard Hughes Medical Institute bought a new stake in shares of Comcast during the 2nd quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $30.16 on Monday. The company’s fifty day simple moving average is $30.13 and its 200-day simple moving average is $29.82. The company has a market cap of $108.51 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.35 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.72.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Comcast’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. Comcast’s payout ratio is presently 24.58%.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Benchmark cut their price objective on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 target price on shares of Comcast in a research report on Friday, January 30th. TD Cowen lowered their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein dropped their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and an average price target of $34.87.

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.