Comcast Corporation $CMCSA Stock Bought by Howard Capital Management LLC

Key Points

• Howard Capital Management more than doubled its Comcast stake in the third quarter, increasing holdings by 119.2% to 395,117 shares valued at approximately $8.6 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast shares recently traded at $21.90, near their 12-month low of $20.48, while analysts maintain a consensus “Hold” rating and an average price target of $30.81.
• The company reported quarterly earnings and revenue above analyst expectations, but revenue declined 1.2% year over year. Comcast also announced a quarterly dividend of $0.33 per share, representing a 6.0% annualized yield.

Howard Capital Management LLC lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 119.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,117 shares of the cable giant's stock after buying an additional 214,845 shares during the period. Howard Capital Management LLC's holdings in Comcast were worth $8,598,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CMCSA. Chemistry Wealth Management LLC increased its holdings in Comcast by 5.0% in the 3rd quarter. Chemistry Wealth Management LLC now owns 29,914 shares of the cable giant's stock valued at $651,000 after purchasing an additional 1,434 shares in the last quarter. Michael J. Porro & Co. Financial Advisors Inc. raised its position in Comcast by 36.5% in the third quarter. Michael J. Porro & Co. Financial Advisors Inc. now owns 26,532 shares of the cable giant's stock valued at $577,000 after purchasing an additional 7,088 shares during the period. Daytona Street Capital LLC lifted its stake in shares of Comcast by 98.8% during the third quarter. Daytona Street Capital LLC now owns 3,220 shares of the cable giant's stock worth $70,000 after purchasing an additional 1,600 shares in the last quarter. Andrews Advisory Associates LLC lifted its stake in shares of Comcast by 34.0% during the third quarter. Andrews Advisory Associates LLC now owns 36,648 shares of the cable giant's stock worth $797,000 after purchasing an additional 9,306 shares in the last quarter. Finally, NFSG Corp boosted its position in shares of Comcast by 324.7% in the third quarter. NFSG Corp now owns 18,433 shares of the cable giant's stock worth $401,000 after buying an additional 14,093 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Up 0.6%

Comcast stock traded up $0.13 during midday trading on Friday, hitting $21.90. The stock had a trading volume of 29,589,305 shares, compared to its average volume of 32,739,894. The business has a fifty day moving average price of $24.14 and a 200 day moving average price of $24.84. Comcast Corporation has a 12 month low of $20.48 and a 12 month high of $32.85. The stock has a market cap of $77.72 billion, a P/E ratio of 7.09, a P/E/G ratio of 1.56 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Research analysts predict that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Dividend Announcement

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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's dividend payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank reduced their target price on shares of Comcast from $29.00 to $27.50 and set a "sector perform" rating on the stock in a research report on Friday, October 2nd. Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a report on Thursday, July 2nd. Barclays set a $24.00 price objective on shares of Comcast and gave the stock an "equal weight" rating in a report on Tuesday, September 29th. UBS Group reissued a "neutral" rating and issued a $27.00 price objective (down from $32.00) on shares of Comcast in a research report on Tuesday, September 15th. Finally, KeyCorp downgraded Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 target price for the company. in a research note on Thursday, September 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Comcast currently has an average rating of "Hold" and an average price target of $30.81.

Comcast Profile

Comcast Corporation NASDAQ: CMCSA is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.

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