Investment Management Associates Inc. ADV Has $10.10 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Investment Management Associates Inc. ADV raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 273,750 shares of the cable giant's stock after purchasing an additional 51,817 shares during the quarter. Comcast comprises 4.1% of Investment Management Associates Inc. ADV's portfolio, making the stock its 10th largest holding. Investment Management Associates Inc. ADV's holdings in Comcast were worth $10,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC bought a new position in Comcast during the 1st quarter valued at $26,000. Abound Financial LLC acquired a new stake in shares of Comcast during the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC lifted its position in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast during the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CMCSA. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research report on Thursday, April 10th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Morgan Stanley set a $37.00 target price on Comcast in a report on Friday, April 25th. Rothschild & Co Redburn reduced their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, Bernstein Bank reduced their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $40.98.

Comcast Stock Down 1.2%

Comcast stock traded down $0.43 during mid-day trading on Friday, hitting $34.99. 16,862,759 shares of the company's stock were exchanged, compared to its average volume of 21,974,051. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The stock has a market cap of $130.64 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.71 and a beta of 0.95. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The stock has a 50 day moving average of $34.96 and a two-hundred day moving average of $35.43.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

Comcast 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.