American Alpha Advisors LLC Makes New $426,000 Investment in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• American Alpha Advisors LLC has acquired 11,543 shares of Comcast Corporation, valued at approximately $426,000, during the first quarter.
• Comcast reported a quarterly revenue of $30.31 billion, which surpassed analysts' expectations and showed a 2.1% year-over-year growth.
• The company declared a quarterly dividend of $0.33 per share, translating to an annualized yield of 4.2%.

American Alpha Advisors LLC acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,543 shares of the cable giant's stock, valued at approximately $426,000.

Other institutional investors also recently added to or reduced their stakes in the company. Advisor OS LLC raised its holdings in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after purchasing an additional 8,841 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Comcast in the first quarter valued at $335,000. DAVENPORT & Co LLC boosted its stake in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock worth $2,834,000 after acquiring an additional 13,678 shares in the last quarter. Finally, American Financial Group Inc. grew its holdings in Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after acquiring an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CMCSA shares. Bernstein Bank reduced their price target on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. BNP Paribas Exane decreased their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Evercore ISI lowered their price target on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Rosenblatt Securities raised their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Finally, TD Cowen lowered their target price on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Trading Up 0.1%

Shares of NASDAQ CMCSA traded up $0.03 during mid-day trading on Thursday, hitting $32.97. 6,741,863 shares of the company traded hands, compared to its average volume of 24,367,072. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The business has a 50 day moving average of $34.41 and a two-hundred day moving average of $34.85. The stock has a market capitalization of $121.71 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 1.93 and a beta of 0.92. 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 issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. Comcast's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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 of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's dividend payout ratio (DPR) is 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.