Comcast Corporation $CMCSA Stock: IFP Advisors Inc Boosts Holdings

Key Points

• IFP Advisors increased its Comcast stake by 171.8% in the third quarter, bringing its holdings to 210,360 shares valued at approximately $4.6 million. Institutional investors and hedge funds collectively own 84.32% of CMCSA.
• Comcast shares opened at $21.90, near the lower end of their 52-week range of $20.48 to $32.85. The company reported quarterly revenue of $29.94 billion and adjusted EPS of $1.04, exceeding analyst expectations, though revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equivalent to a 6.0% annualized yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $30.81.

IFP Advisors Inc increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 171.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,360 shares of the cable giant's stock after buying an additional 132,967 shares during the period. IFP Advisors Inc's holdings in Comcast were worth $4,577,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of CMCSA. Center For Asset Management LLC lifted its position in Comcast by 5.3% during the third quarter. Center For Asset Management LLC now owns 17,759 shares of the cable giant's stock worth $386,000 after buying an additional 891 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of Comcast by 76.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 39,635 shares of the cable giant's stock worth $862,000 after acquiring an additional 17,204 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Comcast during the 3rd quarter worth approximately $766,000. Dynamic Wealth Strategies LLC raised its position in Comcast by 514.4% in the third quarter. Dynamic Wealth Strategies LLC now owns 4,399 shares of the cable giant's stock valued at $96,000 after purchasing an additional 3,683 shares during the period. Finally, 1834 Investment Advisors Co. boosted its holdings in Comcast by 46.2% during the 3rd quarter. 1834 Investment Advisors Co. now owns 258,580 shares of the cable giant's stock valued at $5,627,000 after acquiring an additional 81,732 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ CMCSA opened at $21.90 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $77.72 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. The business's 50-day moving average price is $24.07 and its 200 day moving average price is $24.76. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%. The business had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts predict that Comcast Corporation will post 3.49 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 issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is currently 42.72%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CMCSA shares. Bank of America reiterated a "buy" rating and issued a $35.00 price target (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. UBS Group reiterated a "neutral" rating and set a $27.00 price target (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Raymond James Financial reaffirmed a "market perform" rating on shares of Comcast in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and decreased their price target for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Finally, Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the company an "underweight" rating in a report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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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