Comcast Corporation $CMCSA Shares Bought by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management increased its Comcast stake by 81.2% in the third quarter, adding 92,644 shares to hold 206,767 shares valued at about $4.5 million. Institutional investors and hedge funds collectively own 84.32% of Comcast.
• Comcast reported quarterly EPS of $1.07, beating analysts’ $0.99 estimate, while revenue of $29.30 billion edged past forecasts but fell 6.1% year over year.
• Comcast announced a quarterly dividend of $0.33 per share, equivalent to a 5.4% annualized yield. Analysts’ consensus rating was “Hold,” with an average price target of $28.77.

Hohimer Wealth Management LLC raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 81.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,767 shares of the cable giant's stock after purchasing an additional 92,644 shares during the period. Hohimer Wealth Management LLC's holdings in Comcast were worth $4,499,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC grew its stake in shares of Comcast by 48.2% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant's stock valued at $34,000 after buying an additional 389 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in Comcast by 75.5% in 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 during the last quarter. Bollard Group LLC raised its position in Comcast by 1.1% during the first quarter. Bollard Group LLC now owns 37,607 shares of the cable giant's stock valued at $1,080,000 after acquiring an additional 405 shares in the last quarter. Foster Group Inc. raised its position in Comcast by 5.7% during the second quarter. Foster Group Inc. now owns 8,595 shares of the cable giant's stock valued at $211,000 after acquiring an additional 460 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC raised its position in Comcast by 6.7% during the third quarter. Smallwood Wealth Investment Management LLC now owns 7,375 shares of the cable giant's stock valued at $160,000 after acquiring an additional 460 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA opened at $24.39 on Monday. Comcast Corporation has a 12 month low of $20.48 and a 12 month high of $32.85. The firm has a market cap of $86.61 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.72 and a beta of 0.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. The company's 50 day moving average is $23.14 and its 200-day moving average is $25.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion during the quarter, compared to analysts' expectations of $29.22 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. Comcast's payout ratio is presently 41.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. KeyCorp downgraded shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 target price for the company. in a research report on Thursday, September 24th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Sanford C. Bernstein restated a "market perform" rating and set a $23.00 price target on shares of Comcast in a report on Tuesday, October 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Comcast in a research note on Monday, October 19th. Finally, TD Cowen decreased their price objective on shares of Comcast from $39.00 to $36.00 and set a "buy" rating for the company in a report on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has an average rating of "Hold" and a consensus target price of $28.77.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.

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