Argent Advisors Inc. Increases Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Argent Advisors Inc. increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,086 shares of the cable giant's stock after buying an additional 8,660 shares during the quarter. Argent Advisors Inc.'s holdings in Comcast were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Promus Capital LLC purchased a new position in shares of Comcast in the fourth quarter worth $25,000. Inlight Wealth Management LLC purchased a new stake in Comcast during the 1st quarter valued at about $26,000. Retirement Wealth Solutions LLC grew its stake in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Comcast during the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates grew its stake in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMCSA. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Rosenblatt Securities reiterated a "neutral" rating and set a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. Oppenheimer decreased their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a report on Thursday, April 10th. Finally, Morgan Stanley set a $37.00 price objective on Comcast in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.10.

Comcast Price Performance

CMCSA stock opened at $35.32 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $34.61 and a 200-day simple moving average of $35.58. The firm has a market capitalization of $131.87 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31.

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

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.74%. Comcast's payout ratio is 32.43%.

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.

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