Beacon Harbor Wealth Advisors Inc. Raises Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Beacon Harbor Wealth Advisors Inc. significantly increased its stake in Comcast Corporation by 2,960.9%, acquiring an additional 207,261 shares, bringing its total holdings to 214,261 shares valued at $7,906,000.
• Several institutional investors, including Pacer Advisors Inc. and KBC Group NV, have also made substantial increases in their holdings of Comcast stock, indicating strong interest from the institutional sector.
• Comcast plans to pay a quarterly dividend of $0.33 per share on October 22nd, representing an annual dividend yield of 4.1% and reflecting a payout ratio of 21.82%.

Beacon Harbor Wealth Advisors Inc. increased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2,960.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,261 shares of the cable giant's stock after purchasing an additional 207,261 shares during the period. Comcast makes up 1.8% of Beacon Harbor Wealth Advisors Inc.'s holdings, making the stock its 19th biggest holding. Beacon Harbor Wealth Advisors Inc.'s holdings in Comcast were worth $7,906,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Inlight Wealth Management LLC acquired a new position in Comcast during the first quarter worth about $26,000. Abound Financial LLC bought a new stake in shares of Comcast during the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC increased its position in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in Comcast in the 4th quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its position in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

NASDAQ:CMCSA remained flat at $31.67 during trading hours on Friday. 16,091,644 shares of the company's stock were exchanged, compared to its average volume of 22,820,288. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $116.93 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92. The stock has a fifty day moving average price of $34.55 and a 200-day moving average price of $34.96.

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

Comcast Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, August 1st. New Street Research lowered their target price on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 25th. Citigroup cut their price target on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Scotiabank raised their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.