Seven Eight Capital LP Takes Position in Comcast Co. (NASDAQ:CMCSA)

Posted by Defense World Staff on Sep 10th, 2023

Seven Eight Capital LP bought a new stake in Comcast Co. (NASDAQ:CMCSA – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 24,730 shares of the cable giant’s stock, valued at approximately $938,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Horan Capital Advisors LLC. boosted its holdings in Comcast by 0.3% in the first quarter. Horan Capital Advisors LLC. now owns 90,417 shares of the cable giant’s stock valued at $3,428,000 after acquiring an additional 251 shares during the last quarter. Barry Investment Advisors LLC boosted its holdings in Comcast by 1.9% in the first quarter. Barry Investment Advisors LLC now owns 13,400 shares of the cable giant’s stock valued at $508,000 after acquiring an additional 256 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Comcast by 2.5% in the first quarter. Washington Trust Advisors Inc. now owns 10,822 shares of the cable giant’s stock valued at $410,000 after acquiring an additional 260 shares during the last quarter. M Holdings Securities Inc. boosted its holdings in Comcast by 0.9% in the fourth quarter. M Holdings Securities Inc. now owns 31,520 shares of the cable giant’s stock valued at $1,102,000 after acquiring an additional 267 shares during the last quarter. Finally, AlphaStar Capital Management LLC boosted its holdings in Comcast by 1.3% in the first quarter. AlphaStar Capital Management LLC now owns 22,200 shares of the cable giant’s stock valued at $842,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds own 82.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Oppenheimer boosted their price target on Comcast from $48.00 to $55.00 in a research note on Friday, July 28th. TD Cowen boosted their price target on Comcast from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. KeyCorp boosted their price target on Comcast from $46.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Morgan Stanley boosted their price target on Comcast from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Finally, Barclays upped their target price on Comcast from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.88.

Read Our Latest Stock Report on Comcast

Comcast Stock Performance

Shares of CMCSA opened at $45.03 on Friday. The stock’s 50-day simple moving average is $44.45 and its 200 day simple moving average is $40.75. The stock has a market capitalization of $185.75 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Comcast Co. has a 52-week low of $28.39 and a 52-week high of $47.46.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. The business had revenue of $30.51 billion for the quarter, compared to analysts’ expectations of $30.11 billion. Comcast had a return on equity of 19.79% and a net margin of 5.40%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. Research analysts forecast that Comcast Co. will post 3.81 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 2.58%. Comcast’s dividend payout ratio (DPR) is 73.42%.

About Comcast

(Free Report)

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, advertising sales, and Sky channels.