Chase Investment Counsel Corp Grows Stock Position in Comcast Co. (NASDAQ:CMCSA)

Chase Investment Counsel Corp lifted its stake in Comcast Co. (NASDAQ:CMCSA) by 16.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,503 shares of the cable giant’s stock after buying an additional 1,351 shares during the quarter. Chase Investment Counsel Corp’s holdings in Comcast were worth $392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares during the period. Norges Bank acquired a new position in Comcast in the 4th quarter worth about $2,542,988,000. Price T Rowe Associates Inc. MD boosted its position in 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 in the last quarter. Harris Associates L P grew its holdings in Comcast by 10.9% in the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after purchasing an additional 1,854,671 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Comcast by 3.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after buying an additional 368,685 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CMCSA shares. Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. 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 note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, KeyCorp cut their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Trading Up 1.9 %

NASDAQ:CMCSA traded up $0.75 on Thursday, reaching $39.42. The company’s stock had a trading volume of 5,070,116 shares, compared to its average volume of 19,912,217. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The stock has a 50 day moving average price of $39.20 and a 200 day moving average price of $39.86. The firm has a market cap of $154.67 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. 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 (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. Comcast’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. On average, equities analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.15%. Comcast’s payout ratio is currently 32.80%.

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.