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

Concurrent Investment Advisors LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 49.8% in the first quarter, according to its most recent filing with the SEC. 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 reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Inlight Wealth Management LLC purchased a new stake in shares of Comcast in the first quarter valued at $26,000. Retirement Wealth Solutions LLC lifted its holdings in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast in the fourth quarter valued at $33,000. Global Wealth Strategies & Associates lifted its holdings in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Comcast in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.38 during mid-day trading on Wednesday, hitting $35.62. The company had a trading volume of 14,740,741 shares, compared to its average volume of 21,997,488. The firm has a market cap of $132.99 billion, a P/E ratio of 8.75, a PEG ratio of 1.74 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The business's 50-day simple moving average is $34.92 and its 200-day simple moving average is $35.47.

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

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio is 32.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMCSA shares. UBS Group set a $44.50 target price on Comcast in a report on Friday, April 25th. Bernstein Bank cut their price objective on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Scotiabank reiterated a "sector perform" rating and set a $44.50 price objective (down from $45.00) on shares of Comcast in a report on Friday, April 25th. Morgan Stanley set a $37.00 price objective on Comcast in a report on Friday, April 25th. Finally, Evercore ISI cut their price objective 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 issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.96.

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.