AlphaCore Capital LLC Has $1.21 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• AlphaCore Capital LLC increased its stake in Comcast Corporation by 89.7%, acquiring an additional 15,549 shares, bringing its total holdings to 32,889 shares worth approximately $1.21 million.
• Multiple institutional investors made significant adjustments to their positions in Comcast, with Pacer Advisors Inc. dramatically increasing its stake by 1,959.3%, now owning over 13 million shares valued at $488 million.
• Comcast recently declared a quarterly dividend of $0.33, with an annualized yield of 4.2%, reflecting a payout ratio of 21.82% and scheduled for payment on October 22nd.

AlphaCore Capital LLC lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 89.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,889 shares of the cable giant's stock after purchasing an additional 15,549 shares during the quarter. AlphaCore Capital LLC's holdings in Comcast were worth $1,214,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Comcast by 8.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,064,306 shares of the cable giant's stock valued at $260,673,000 after buying an additional 538,854 shares during the last quarter. WealthPlan Investment Management LLC boosted its stake in shares of Comcast by 10.2% during the 1st quarter. WealthPlan Investment Management LLC now owns 9,307 shares of the cable giant's stock valued at $343,000 after buying an additional 859 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. boosted its stake in shares of Comcast by 2,960.9% during the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 214,261 shares of the cable giant's stock valued at $7,906,000 after buying an additional 207,261 shares during the last quarter. Ironwood Investment Counsel LLC boosted its stake in shares of Comcast by 10.0% during the 1st quarter. Ironwood Investment Counsel LLC now owns 133,468 shares of the cable giant's stock valued at $4,925,000 after buying an additional 12,133 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Comcast during the 1st quarter valued at approximately $3,177,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of Comcast stock traded down $0.26 during midday trading on Monday, hitting $31.41. 19,951,149 shares of the company were exchanged, compared to its average volume of 22,791,100. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $115.97 billion, a P/E ratio of 7.17, a PEG ratio of 1.90 and a beta of 0.92. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The firm has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $34.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CMCSA. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group lowered their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Argus cut Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. TD Cowen lowered their price target on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.