Steel Grove Capital Advisors LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 55.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,150 shares of the cable giant’s stock after purchasing an additional 32,856 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Comcast were worth $2,005,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sax Wealth Advisors LLC raised its stake in shares of Comcast by 49.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 12,550 shares of the cable giant’s stock worth $273,000 after purchasing an additional 4,161 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Comcast by 26.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 64,901 shares of the cable giant’s stock valued at $1,412,000 after buying an additional 13,434 shares in the last quarter. Atlas Brown Inc. grew its stake in shares of Comcast by 30.4% in the third quarter. Atlas Brown Inc. now owns 41,874 shares of the cable giant’s stock valued at $911,000 after buying an additional 9,762 shares in the last quarter. Stokes Capital Advisors LLC increased its holdings in Comcast by 32.8% during the third quarter. Stokes Capital Advisors LLC now owns 16,584 shares of the cable giant’s stock worth $361,000 after buying an additional 4,100 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in Comcast by 274.0% during the third quarter. Wedmont Private Capital now owns 56,228 shares of the cable giant’s stock worth $1,312,000 after buying an additional 41,192 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on CMCSA shares. Rosenblatt Securities reissued a “buy” rating and issued a $31.00 price objective on shares of Comcast in a research report on Friday, July 24th. Raymond James Financial reaffirmed a “market perform” rating on shares of Comcast in a report on Friday, October 2nd. KeyCorp downgraded shares of Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research note on Thursday, September 24th. Royal Bank Of Canada set a $26.00 price target on Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.81.
Comcast Price Performance
NASDAQ:CMCSA traded up $0.14 during trading hours on Tuesday, reaching $20.82. 9,519,273 shares of the company were exchanged, compared to its average volume of 32,672,119. The business has a 50 day moving average of $24.43 and a 200 day moving average of $25.02. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $73.86 billion, a P/E ratio of 6.74, a P/E/G ratio of 1.48 and a beta of 0.68.
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. Research analysts forecast that Comcast Corporation will post 3.49 EPS for the current year.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s payout ratio is 42.72%.
Comcast Company Profile
Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.
Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.
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