Blume Capital Management Inc. Increases Stake in Comcast Co. (NASDAQ:CMCSA)

Blume Capital Management Inc. increased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,027 shares of the cable giant’s stock after purchasing an additional 2,105 shares during the quarter. Comcast accounts for about 4.0% of Blume Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Blume Capital Management Inc.’s holdings in Comcast were worth $11,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors increased its position in Comcast by 1.8% in the first quarter. Capital International Investors now owns 219,742,386 shares of the cable giant’s stock worth $11,891,228,000 after buying an additional 3,887,251 shares during the period. Geode Capital Management LLC increased its holdings in shares of Comcast by 1.8% during the first quarter. Geode Capital Management LLC now owns 72,789,157 shares of the cable giant’s stock valued at $3,927,697,000 after purchasing an additional 1,296,417 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Comcast by 10.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 52,894,126 shares of the cable giant’s stock valued at $2,862,101,000 after purchasing an additional 5,155,779 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Comcast by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 45,240,994 shares of the cable giant’s stock valued at $2,447,991,000 after purchasing an additional 690,504 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Comcast by 2.8% during the first quarter. Nuveen Asset Management LLC now owns 38,203,429 shares of the cable giant’s stock valued at $2,067,188,000 after purchasing an additional 1,025,326 shares during the period. 82.49% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CMCSA traded up $1.03 during trading on Wednesday, hitting $56.62. The company’s stock had a trading volume of 753,488 shares, compared to its average volume of 16,353,840. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.04. The firm 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 $259.87 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. Comcast Co. has a 52 week low of $40.97 and a 52 week high of $61.80.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 29th. The cable giant reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.17. Comcast had a return on equity of 14.15% and a net margin of 11.44%. The company had revenue of $28.55 billion for the quarter, compared to analyst estimates of $27.14 billion. On average, equities analysts expect that Comcast Co. will post 3.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 27th. Investors of record on Wednesday, October 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, October 5th. Comcast’s dividend payout ratio is 38.31%.

A number of research analysts recently issued reports on CMCSA shares. Truist Securities lifted their target price on Comcast from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Truist lifted their target price on Comcast from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Comcast from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 30th. HSBC increased their price target on Comcast from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, May 24th. Finally, Morgan Stanley increased their price target on Comcast from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. One investment analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $64.93.

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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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