Comcast Corporation $CMCSA Shares Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC increased its Comcast stake by 53.8% in the fourth quarter, adding 72,129 shares to bring its total to 206,112 shares valued at about $6.16 million.
• Comcast reported stronger-than-expected quarterly results, with EPS of $0.79 topping estimates and revenue of $31.46 billion beating forecasts, while revenue rose 5.3% year over year.
• The company also announced a dividend of $0.33 per share, equal to an annualized yield of 5.2%, while Wall Street analysts currently rate the stock a consensus Hold with a $34.79 average price target.

Axxcess Wealth Management LLC grew its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 53.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,112 shares of the cable giant's stock after purchasing an additional 72,129 shares during the quarter. Axxcess Wealth Management LLC's holdings in Comcast were worth $6,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vestmark Advisory Solutions Inc. raised its holdings in shares of Comcast by 3,584.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 936,640 shares of the cable giant's stock valued at $27,996,000 after purchasing an additional 911,219 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock valued at $32,000 after purchasing an additional 384 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Comcast by 52.1% in the 4th quarter. FourThought Financial Partners LLC now owns 556,506 shares of the cable giant's stock valued at $16,634,000 after purchasing an additional 190,534 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Comcast by 34.7% in the 4th quarter. Global Retirement Partners LLC now owns 78,562 shares of the cable giant's stock valued at $2,348,000 after purchasing an additional 20,231 shares in the last quarter. Finally, Mach 1 Financial Group LLC raised its holdings in shares of Comcast by 486.4% in the 4th quarter. Mach 1 Financial Group LLC now owns 54,363 shares of the cable giant's stock valued at $1,625,000 after purchasing an additional 45,093 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Up 0.5%

NASDAQ CMCSA opened at $25.20 on Friday. Comcast Corporation has a 12 month low of $24.53 and a 12 month high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $90.02 billion, a price-to-earnings ratio of 4.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71. The firm's fifty day moving average price is $27.73 and its 200 day moving average price is $28.62.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period last year, the firm posted $1.09 EPS. Comcast's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $29.00 target price on shares of Comcast in a research report on Thursday, April 23rd. BNP Paribas Exane dropped their target price on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada increased their target price on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Scotiabank increased their target price on shares of Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Finally, Zacks Research raised shares of Comcast from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $34.79.

Comcast Company Profile

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.

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