Beck Mack & Oliver LLC Grows Stock Position in Comcast Corporation $CMCSA

Key Points

• Beck Mack & Oliver LLC increased its stake in Comcast by 64% in Q1, acquiring a total of 25,479 shares valued at approximately $940,000.
• Comcast reported better-than-expected Q2 earnings, with $1.25 EPS against analyst estimates of $1.18, and revenues of $30.31 billion, surpassing the forecast of $29.81 billion.
• The company announced a quarterly dividend of $0.33 per share, providing a yield of 3.9%, with the ex-dividend date set for October 1st.

Beck Mack & Oliver LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 64.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,479 shares of the cable giant's stock after buying an additional 9,940 shares during the quarter. Beck Mack & Oliver LLC's holdings in Comcast were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sculati Wealth Management LLC boosted its position in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after buying an additional 285 shares during the period. Toth Financial Advisory Corp boosted its holdings in Comcast by 9.0% during the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after acquiring an additional 300 shares during the period. Clearstead Trust LLC increased its stake in Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after purchasing an additional 305 shares during the period. United Asset Strategies Inc. boosted its stake in shares of Comcast by 2.2% during the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after purchasing an additional 308 shares during the period. Finally, Moors & Cabot Inc. grew its holdings in shares of Comcast by 0.6% in the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after purchasing an additional 310 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Trading Up 1.2%

Shares of Comcast stock opened at $33.97 on Friday. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The firm's 50 day simple moving average is $34.14 and its two-hundred day simple moving average is $34.74. 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 firm has a market capitalization of $125.42 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.03 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data 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. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. Analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Analyst Ratings Changes

A number of brokerages have recently commented on CMCSA. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Moffett Nathanson increased their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Citigroup restated a "buy" rating on shares of Comcast in a report on Tuesday. Finally, Barclays lowered their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.73.

Comcast 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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