Bridges Investment Management Inc. Acquires 49,084 Shares of Comcast Co. (NASDAQ:CMCSA)

Bridges Investment Management Inc. lifted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 46.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 155,850 shares of the cable giant’s stock after acquiring an additional 49,084 shares during the quarter. Bridges Investment Management Inc.’s holdings in Comcast were worth $6,103,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMCSA. Capital World Investors raised its holdings in Comcast by 17.0% in the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after acquiring an additional 15,625,543 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after purchasing an additional 8,243,302 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after purchasing an additional 4,714,586 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its holdings in Comcast by 116.8% during the 4th quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock worth $227,034,000 after purchasing an additional 2,772,190 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of Comcast stock opened at $40.27 on Friday. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.03 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company’s fifty day moving average is $39.53 and its 200 day moving average is $39.68.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.08%. Comcast’s payout ratio is 32.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMCSA. Pivotal Research dropped their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Wednesday, July 24th. The Goldman Sachs Group initiated coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, June 11th. Finally, StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.78.

About Comcast

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.