Comcast Corporation $CMCSA Stock: 1834 Investment Advisors Co. Increases Stake

Key Points

• 1834 Investment Advisors increased its Comcast stake by 46.2% in the third quarter, bringing its holdings to 258,580 shares valued at approximately $5.63 million. Institutional investors collectively own 84.32% of the company.
• Comcast’s shares opened at $21.90, near the lower end of their 12-month range, while the company offers a quarterly dividend of $0.33 per share, representing a 6.0% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $30.81; several firms recently lowered their targets, while one upgraded the shares to “Buy.”

1834 Investment Advisors Co. grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 46.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,580 shares of the cable giant's stock after purchasing an additional 81,732 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Comcast were worth $5,627,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD purchased a new position in Comcast during the 1st quarter valued at about $27,000. Provenance Wealth Advisors LLC purchased a new position in Comcast during the 1st quarter valued at about $30,000. Monetary Solutions Ltd bought a new stake in shares of Comcast during the fourth quarter valued at about $32,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Comcast during the first quarter valued at about $32,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

NASDAQ:CMCSA opened at $21.90 on Friday. The business's 50-day moving average price is $24.14 and its two-hundred day moving average price is $24.84. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85. The stock has a market cap of $77.72 billion, a P/E ratio of 7.09, a PEG ratio of 1.57 and a beta of 0.68. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The firm had revenue of $29.94 billion during 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%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts predict that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 6.0%. Comcast's payout ratio is 42.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Comcast from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Friday, September 25th. Scotiabank reduced their price objective on shares of Comcast from $29.00 to $27.50 and set a "sector perform" rating for the company in a research note on Friday, October 2nd. BNP Paribas Exane decreased their target price on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating on the stock in a report on Tuesday, July 14th. KeyCorp lowered shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 target price on the stock. in a report on Thursday, September 24th. Finally, Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a research note on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.81.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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