Advisor Resource Council Buys Shares of 16,582 Comcast Corporation (NASDAQ:CMCSA)

Advisor Resource Council purchased a new position in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,582 shares of the cable giant's stock, valued at approximately $612,000.

Several other institutional investors have also modified their holdings of CMCSA. Meriwether Wealth & Planning LLC lifted its position in Comcast by 21.6% in the first quarter. Meriwether Wealth & Planning LLC now owns 38,572 shares of the cable giant's stock valued at $1,423,000 after acquiring an additional 6,861 shares during the last quarter. Good Steward Wealth Advisors LLC purchased a new stake in Comcast in the first quarter valued at approximately $390,000. True Link Financial Advisors LLC purchased a new stake in Comcast in the 1st quarter valued at $274,000. Cherry Tree Wealth Management LLC raised its position in Comcast by 79.4% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 1,349 shares of the cable giant's stock valued at $50,000 after purchasing an additional 597 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Comcast by 26.4% in the 1st quarter. Blue Trust Inc. now owns 33,752 shares of the cable giant's stock valued at $1,245,000 after purchasing an additional 7,041 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 0.8%

Shares of NASDAQ CMCSA traded up $0.27 during midday trading on Friday, reaching $34.53. 42,690,031 shares of the stock were exchanged, compared to its average volume of 21,971,160. The company has a market capitalization of $128.92 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.69 and a beta of 0.95. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $34.50 and a 200-day moving average price of $35.77.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.82%. Comcast's dividend payout ratio (DPR) is 32.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMCSA. Barclays reduced their target price on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Rosenblatt Securities restated a "neutral" rating and set a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. Oppenheimer cut their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. KeyCorp cut their price target on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, UBS Group set a $44.50 price target on shares of Comcast in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

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.