Brookstone Capital Management Boosts Stock Position in Comcast Corporation $CMCSA

Key Points

• Brookstone Capital Management increased its Comcast position by 203% in the second quarter, adding 104,047 shares to hold 155,301 shares valued at $3.8 million. Institutional investors collectively own 84.32% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $32.96 price target; 11 analysts rate Comcast a Buy, 13 a Hold and four a Sell.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, while year-over-year revenue declined 1.2%. The company also declared a quarterly dividend of $0.33, representing a 5.0% annualized yield.

Brookstone Capital Management raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 203.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,301 shares of the cable giant's stock after buying an additional 104,047 shares during the quarter. Brookstone Capital Management's holdings in Comcast were worth $3,813,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allied Private Wealth LLC bought a new position in shares of Comcast during the 2nd quarter worth approximately $26,000. Imprint Wealth LLC acquired a new stake in Comcast in the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Comcast in the fourth quarter worth $27,000. Whipplewood Advisors LLC grew its holdings in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD acquired a new position in shares of Comcast during the first quarter worth $27,000. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of several analyst reports. Barclays set a $26.00 price objective on Comcast and gave the company an "equal weight" rating in a report on Friday, July 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $28.00 target price on shares of Comcast in a research report on Monday, July 13th. Weiss Ratings cut Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Moffett Nathanson lowered their price target on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Finally, BNP Paribas Exane dropped their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $32.96.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $26.18 on Friday. The business's 50 day moving average price is $23.80 and its 200 day moving average price is $26.90. The firm has a market cap of $92.90 billion, a P/E ratio of 8.47, a P/E/G ratio of 1.45 and a beta of 0.67. Comcast Corporation has a 52 week low of $21.28 and a 52 week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the company earned $1.25 EPS. Comcast's quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Comcast's dividend payout ratio is presently 42.72%.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source