Foundry Partners LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

ETFS

Foundry Partners LLC bought a new position in shares of Comcast Co. (NASDAQ:CMCSA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 474,680 shares of the cable giant’s stock, valued at approximately $26,549,000. Comcast accounts for about 1.0% of Foundry Partners LLC’s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds have also recently modified their holdings of the business. Field & Main Bank raised its stake in shares of Comcast by 200.0% in the 3rd quarter. Field & Main Bank now owns 450 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 300 shares during the period. Newton One Investments LLC acquired a new position in shares of Comcast in the second quarter valued at approximately $28,000. Baron Financial Group LLC grew its holdings in shares of Comcast by 688.6% in the second quarter. Baron Financial Group LLC now owns 552 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 482 shares in the last quarter. Axiom Investment Management LLC acquired a new position in shares of Comcast in the first quarter valued at approximately $37,000. Finally, Lake Point Wealth Management acquired a new position in shares of Comcast in the second quarter valued at approximately $41,000. 82.48% of the stock is currently owned by institutional investors.

Comcast stock opened at $51.88 on Friday. The stock has a market capitalization of $237.04 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.06 and a beta of 0.96. Comcast Co. has a 12-month low of $48.15 and a 12-month high of $61.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day moving average is $54.11 and its two-hundred day moving average is $56.58.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 28th. The cable giant reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.12. The business had revenue of $30.30 billion for the quarter, compared to analyst estimates of $29.87 billion. Comcast had a net margin of 12.73% and a return on equity of 14.88%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. As a group, analysts forecast that Comcast Co. will post 3.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, January 4th. This represents a $1.00 annualized dividend and a yield of 1.93%. Comcast’s payout ratio is 32.26%.

Several research analysts have commented on CMCSA shares. Citigroup lowered their price target on shares of Comcast from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 1st. Barclays reduced their price target on shares of Comcast from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, November 1st. Wells Fargo & Company reduced their price target on shares of Comcast from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, October 8th. Loop Capital cut their price objective on shares of Comcast from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Monday. Finally, Credit Suisse Group upped their price objective on shares of Comcast from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $65.87.

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.

See Also: What is an investor looking for in an SEC filing?

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

Products You May Like

Articles You May Like

Stocks making the biggest moves midday: SoFi, Procter & Gamble, U.S. Bancorp and more
3 Dividend Aristocrats Yielding Over 4%
Alphabet Will Continue To Innovate And Grow
Investing In DraftKings Stock Looks Like A Winning Bet in 2022
Tom Cruise space movie producers sign deal with Axiom to build studio in orbit

Leave a Reply

Your email address will not be published. Required fields are marked *