Concurrent Investment Advisors LLC Raises Stake in Comcast Corporation (NASDAQ:CMCSA)

Concurrent Investment Advisors LLC lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 49.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,361 shares of the cable giant's stock after acquiring an additional 27,389 shares during the period. Concurrent Investment Advisors LLC's holdings in Comcast were worth $3,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the first quarter valued at approximately $26,000. Retirement Wealth Solutions LLC lifted its stake in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast during the fourth quarter worth $33,000. Global Wealth Strategies & Associates lifted its stake in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Comcast during the fourth quarter valued at $36,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.6%

Comcast stock traded down $0.20 during mid-day trading on Thursday, reaching $35.42. 15,131,625 shares of the company's stock were exchanged, compared to its average volume of 21,970,115. The company has a market cap of $132.25 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.74 and a beta of 0.95. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $34.92 and a 200-day moving average of $35.47.

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

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is 32.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BNP Paribas downgraded shares of 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. New Street Research decreased their price objective on shares of Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Bernstein Bank decreased their price objective on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Morgan Stanley set a $37.00 price objective on shares of Comcast in a research report on Friday, April 25th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $36.00 price objective on shares of Comcast in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $40.96.

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.