Concurrent Investment Advisors LLC Buys 27,389 Shares of Comcast Corporation (NASDAQ:CMCSA)

Concurrent Investment Advisors LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 49.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares during the last quarter. Norges Bank acquired a new position in Comcast during the fourth quarter worth approximately $3,835,226,000. Geode Capital Management LLC increased its position in Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after purchasing an additional 1,006,272 shares during the last quarter. Dodge & Cox raised its stake in Comcast by 6.8% during the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on CMCSA shares. 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. BNP Paribas Exane lowered their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Oppenheimer decreased their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Rothschild & Co Redburn reduced their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Evercore ISI reduced their target price on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.96.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded down $0.54 during trading on Wednesday, reaching $35.46. The stock had a trading volume of 4,638,372 shares, compared to its average volume of 21,944,331. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $132.41 billion, a PE ratio of 8.72, a P/E/G ratio of 1.71 and a beta of 0.95. The business's 50-day moving average price is $34.89 and its 200 day moving average price is $35.47. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $1.04 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.72%. Comcast's payout ratio is 32.43%.

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.