Comcast Corporation $CMCSA Shares Bought by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors more than doubled its Comcast stake in the second quarter, increasing holdings by 108.8% to 223,089 shares valued at approximately $5.48 million. Institutional investors collectively own 84.32% of CMCSA.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $32.96; ratings include 11 Buys, 13 Holds, and four Sells.
• Comcast beat quarterly earnings and revenue expectations, reporting $1.04 EPS and $29.94 billion in revenue, while announcing a quarterly dividend of $0.33 per share, equivalent to a 5.0% annualized yield.

Concurrent Investment Advisors LLC lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 108.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,089 shares of the cable giant's stock after acquiring an additional 116,224 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Comcast were worth $5,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC boosted its stake in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after buying an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. raised its position in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank raised its position in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock valued at $606,000 after acquiring an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after acquiring an additional 15,865 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $26.00 price objective on shares of Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Morgan Stanley set a $29.00 target price on shares of Comcast in a report on Friday, July 24th. Sanford C. Bernstein restated a "market perform" rating and issued a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a "hold" rating to a "buy" rating and cut their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $31.00 price objective on shares of Comcast in a research note on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.96.

Comcast Stock Performance

Shares of CMCSA opened at $26.49 on Monday. Comcast Corporation has a one year low of $21.28 and a one year high of $34.38. The company has a 50-day moving average of $24.86 and a two-hundred day moving average of $26.45. The stock has a market cap of $94.00 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) 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 analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities research analysts expect that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

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

Comcast 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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