OLD National Bancorp IN Acquires 3,420 Shares of Comcast Corporation $CMCSA

OLD National Bancorp IN boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,559 shares of the cable giant’s stock after purchasing an additional 3,420 shares during the quarter. OLD National Bancorp IN’s holdings in Comcast were worth $1,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox lifted its holdings in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Comcast by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock worth $1,240,955,000 after purchasing an additional 926,663 shares during the period. Nuveen LLC bought a new position in shares of Comcast during the 1st quarter valued at approximately $940,015,000. Harris Associates L P raised its holdings in Comcast by 0.5% during the 1st quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock valued at $759,938,000 after buying an additional 111,662 shares during the period. Finally, Raymond James Financial Inc. lifted its position in Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock worth $746,980,000 after buying an additional 427,705 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday. Moffett Nathanson upped their price target on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Bank of America dropped their target price on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Finally, Rothschild & Co Redburn reduced their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $40.06.

Comcast Stock Performance

Comcast stock opened at $31.09 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $114.79 billion, a PE ratio of 5.14, a P/E/G ratio of 1.81 and a beta of 0.94. The company has a 50 day moving average price of $32.68 and a 200-day moving average price of $34.09. Comcast Corporation has a fifty-two week low of $30.38 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s dividend payout ratio (DPR) is currently 21.82%.

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.