Kestra Investment Management LLC Buys 23,607 Shares of Comcast Corporation $CMCSA

Key Points

• Kestra Investment Management LLC increased its stake in Comcast Corporation by 49.5%, acquiring a total of 71,331 shares, valued at approximately $2.63 million.
• Comcast reported earnings of $1.25 EPS in its latest quarter, beating estimates, with revenue reaching $30.31 billion, a 2.1% increase year-over-year.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 3.9%, with the payout ratio at 21.82%.

Kestra Investment Management LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 49.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,331 shares of the cable giant's stock after purchasing an additional 23,607 shares during the period. Kestra Investment Management LLC's holdings in Comcast were worth $2,632,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in Comcast in the first quarter worth $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% in the first 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 purchased a new position in Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of Comcast by 203.4% during the 1st 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. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.19 during trading on Wednesday, reaching $33.48. 17,669,967 shares of the company traded hands, compared to its average volume of 19,796,486. The firm has a 50 day simple moving average of $33.94 and a 200-day simple moving average of $34.64. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The stock has a market capitalization of $123.62 billion, a PE ratio of 7.62, a P/E/G ratio of 2.02 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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 net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMCSA. Rosenblatt Securities lifted their price target on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Citigroup reiterated a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Sanford C. Bernstein cut their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Finally, Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $40.56.

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.