Cetera Investment Advisers Has $41.77 Million Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Cetera Investment Advisers increased its stake in Comcast Corporation by 4.9%, owning 1,131,950 shares worth approximately $41.77 million.
• Comcast reported a quarterly earnings per share of $1.09, exceeding analyst expectations, with revenue of $29.89 billion, down 0.6% year-over-year.
• The company declared a quarterly dividend of $0.33, representing an annualized yield of 3.92% as of the ex-dividend date of July 2nd.

Cetera Investment Advisers raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,131,950 shares of the cable giant's stock after buying an additional 53,214 shares during the quarter. Cetera Investment Advisers' holdings in Comcast were worth $41,769,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the first quarter valued at about $26,000. Abound Financial LLC bought a new stake in shares of Comcast during the first quarter valued at about $29,000. Retirement Wealth Solutions LLC raised its stake in shares of Comcast by 126.9% during the first 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 in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Comcast during the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates raised its stake in shares of Comcast by 203.4% during the first 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 in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 0.0%

Shares of Comcast stock traded up $0.01 during trading on Wednesday, hitting $32.84. 9,162,324 shares of the stock traded hands, compared to its average volume of 24,237,729. The stock has a market cap of $122.60 billion, a P/E ratio of 8.06, a PEG ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a fifty day moving average price of $34.91 and a two-hundred day moving average price of $35.18.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 4.02%. Comcast's dividend payout ratio (DPR) is currently 32.43%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of research analyst reports. New Street Research lowered their target price on Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company lowered Comcast from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Rothschild & Co Redburn lowered their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Evercore ISI dropped their price target on Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.13.

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.