Comcast Corporation $CMCSA Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Comcast stake by 35.6% in the first quarter, acquiring 123,151 additional shares for a total holding of 469,089 shares valued at $13.47 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast exceeded quarterly expectations with earnings per share of $1.04 versus the $0.97 consensus and revenue of $29.94 billion, although revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33 per share, implying a 5.2% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.96, compared with the stock’s opening price of $25.36.

NewEdge Advisors LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 35.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 469,089 shares of the cable giant's stock after buying an additional 123,151 shares during the quarter. NewEdge Advisors LLC's holdings in Comcast were worth $13,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Imprint Wealth LLC acquired a new position in shares of Comcast in the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC boosted its holdings in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after buying an additional 401 shares in the last quarter. Main Street Group LTD acquired a new position in Comcast in the first quarter worth approximately $27,000. Finally, Richardson Financial Services Inc. grew its position in Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant's stock worth $30,000 after buying an additional 691 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

CMCSA opened at $25.36 on Friday. The stock has a fifty day moving average of $23.69 and a 200-day moving average of $27.00. The firm has a market capitalization of $89.99 billion, a P/E ratio of 8.21, a PEG ratio of 1.44 and a beta of 0.67. Comcast Corporation has a 12-month low of $21.28 and a 12-month 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, beating analysts' consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities analysts forecast that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid 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, October 7th. Comcast's payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. New Street Research cut their price objective on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Citigroup reduced their target price on Comcast from $35.50 to $32.00 and set a "buy" rating for the company in a report on Monday, June 29th. Evercore lifted their price target on Comcast from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Finally, Moffett Nathanson cut their price objective on Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.96.

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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