OLD National Bancorp IN Increases Stock Position in Comcast Corporation $CMCSA

OLD National Bancorp IN increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,559 shares of the cable giant’s stock after purchasing an additional 3,420 shares during the period. OLD National Bancorp IN’s holdings in Comcast were worth $1,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its position in Comcast by 13.0% during the second quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock valued at $25,867,000 after acquiring an additional 83,631 shares during the last quarter. Advisor OS LLC boosted its holdings in shares of Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after buying an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after buying an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in Comcast during the first quarter valued at approximately $335,000. Finally, DAVENPORT & Co LLC raised its position in Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after acquiring an additional 1,261,278 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMCSA shares. Barclays cut their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Royal Bank Of Canada initiated coverage on Comcast in a research report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comcast in a research note on Saturday, September 27th. KeyCorp cut their price objective on Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America decreased their target price on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.06.

Comcast Stock Up 0.6%

NASDAQ CMCSA opened at $31.09 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $30.38 and a 12 month high of $45.31. The stock’s 50 day moving average is $32.68 and its 200 day moving average is $34.09. The stock has a market cap of $114.79 billion, a PE ratio of 5.14, a P/E/G ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Research analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Comcast 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.