Focus Partners Wealth Has $31.62 Million Position in Comcast Corporation $CMCSA

Key Points

• Focus Partners Wealth increased its stake in Comcast by 2.5%, acquiring a total of 857,001 shares worth approximately $31.6 million.
• Comcast reported a quarterly earnings per share (EPS) of $1.25, surpassing analyst expectations, with revenue reaching $30.31 billion for the quarter.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized dividend yield of 4.0%, to be paid on October 22nd.

Focus Partners Wealth lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 857,001 shares of the cable giant's stock after acquiring an additional 21,181 shares during the quarter. Focus Partners Wealth's holdings in Comcast were worth $31,623,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMCSA. Advisor OS LLC increased its holdings in shares of Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after buying an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in Comcast in the 1st quarter valued at about $335,000. DAVENPORT & Co LLC raised its holdings in Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC lifted its position in Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock worth $2,632,000 after acquiring an additional 23,607 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock traded down $0.34 during mid-day trading on Friday, hitting $33.06. The stock had a trading volume of 23,842,060 shares, compared to its average volume of 19,712,344. The firm has a fifty day simple moving average of $33.79 and a 200 day simple moving average of $34.59. The firm has a market capitalization of $122.06 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the business posted $1.21 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is currently 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research reports. Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. Morgan Stanley dropped their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Barclays reduced their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. UBS Group lowered their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Finally, Royal Bank Of Canada initiated coverage on shares of Comcast in a report on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.56.

Comcast Company 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.