Comcast Corporation $CMCSA Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in Comcast Corporation by 2.2%, owning over 20 million shares valued at approximately $746.98 million.
• A variety of institutional investors, including Forvis Mazars Wealth Advisors and Gen Wealth Partners, have raised their stakes in Comcast, with institutional investors collectively owning 84.32% of the company’s stock.
• Comcast announced a quarterly dividend of $0.33 per share, translating to an annual yield of 3.9%, with the ex-dividend date set for October 1st.

Raymond James Financial Inc. grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,243,358 shares of the cable giant's stock after purchasing an additional 427,705 shares during the quarter. Raymond James Financial Inc. owned 0.54% of Comcast worth $746,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its position in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Comcast by 49.1% in the fourth quarter. Jump Financial LLC now owns 83,699 shares of the cable giant's stock valued at $3,141,000 after purchasing an additional 27,576 shares during the period. GKV Capital Management Co. Inc. acquired a new stake in Comcast during the 4th quarter valued at $44,000. Capital International Sarl increased its stake in Comcast by 8.1% during the 4th quarter. Capital International Sarl now owns 148,544 shares of the cable giant's stock worth $5,575,000 after buying an additional 11,105 shares during the period. Finally, Cadence Bank lifted its holdings in Comcast by 1.7% in the 4th quarter. Cadence Bank now owns 165,320 shares of the cable giant's stock worth $6,204,000 after buying an additional 2,713 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.6050 during trading hours on Wednesday, reaching $33.2850. The company's stock had a trading volume of 16,065,260 shares, compared to its average volume of 24,290,291. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The business has a 50-day simple moving average of $34.30 and a 200 day simple moving average of $34.77. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The stock has a market cap of $122.90 billion, a PE ratio of 5.50, a PEG ratio of 2.01 and a beta of 0.92.

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

Comcast Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMCSA. The Goldman Sachs Group decreased their price objective on shares of Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Citigroup decreased their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of "Hold" and a consensus price target of $40.73.

About Comcast

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.