Retirement Planning Co of New England Inc. Makes New Investment in Comcast Corporation $CMCSA

Key Points

• Retirement Planning Co of New England Inc. acquired 8,048 shares of Comcast Corporation, valued at approximately $297,000, during the first quarter.
• Comcast's quarterly earnings surpassed expectations with a reported EPS of $1.25, beating estimates by $0.07, and revenue rose to $30.31 billion.
• The company announced a quarterly dividend of $0.33 per share, equating to a 3.9% dividend yield, to be paid on October 22nd.

Retirement Planning Co of New England Inc. purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,048 shares of the cable giant's stock, valued at approximately $297,000.

A number of other hedge funds also recently bought and sold shares of CMCSA. Brighton Jones LLC raised its stake in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Comcast by 27.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 235,561 shares of the cable giant's stock valued at $8,841,000 after acquiring an additional 51,259 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. BIP Wealth LLC raised its stake in shares of Comcast by 25.6% in the fourth quarter. BIP Wealth LLC now owns 9,568 shares of the cable giant's stock valued at $359,000 after acquiring an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of Comcast by 4.0% in the fourth quarter. Benjamin Edwards Inc. now owns 155,360 shares of the cable giant's stock valued at $5,831,000 after acquiring an additional 6,046 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.7%

CMCSA stock traded down $0.24 during trading on Wednesday, hitting $33.89. The company had a trading volume of 17,907,194 shares, compared to its average volume of 19,702,632. The firm has a market capitalization of $125.13 billion, a P/E ratio of 5.60, a PEG ratio of 2.03 and a beta of 0.93. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a 50 day simple moving average of $34.08 and a 200-day simple moving average of $34.72. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 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 the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. As a group, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 21.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. UBS Group reduced their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Citigroup reissued a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Scotiabank increased their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Moffett Nathanson increased their target price on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus target price of $40.73.

Comcast Company 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.