LGT Fund Management Co Ltd. Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

LGT Fund Management Co Ltd. purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 81,600 shares of the cable giant’s stock, valued at approximately $3,195,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Steph & Co. lifted its holdings in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Comcast in the second quarter valued at approximately $27,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Comcast in the fourth quarter worth $28,000. IAG Wealth Partners LLC boosted its holdings in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the period. Finally, Pineridge Advisors LLC acquired a new position in Comcast in the 4th quarter valued at $32,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 0.3 %

NASDAQ:CMCSA opened at $39.72 on Tuesday. The company has a market cap of $153.82 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.05 and a beta of 1.01. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average price is $39.27 and its two-hundred day moving average price is $39.80.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same period last year, the company earned $1.13 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. Comcast’s payout ratio is 32.80%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. Pivotal Research cut their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Barclays dropped their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.78.

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.