Comcast Corporation (NASDAQ:CMCSA) Shares Purchased by Ironwood Investment Counsel LLC

Key Points

• Ironwood Investment Counsel LLC increased its stake in Comcast by 10.0%, owning 133,468 shares worth about $4.93 million as of the latest SEC filing.
• Comcast reported a Q2 EPS of $1.25, exceeding estimates, with revenues totaling $30.31 billion, which is a 2.1% year-over-year increase.
• The company declared a quarterly dividend of $0.33 per share, representing a 4.1% annual yield, with the ex-dividend date set for October 1st.

Ironwood Investment Counsel LLC raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,468 shares of the cable giant's stock after buying an additional 12,133 shares during the quarter. Ironwood Investment Counsel LLC's holdings in Comcast were worth $4,925,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CMCSA. Sculati Wealth Management LLC raised its position in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after purchasing an additional 285 shares during the period. Beck Mack & Oliver LLC raised its holdings in Comcast by 2.0% during the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after buying an additional 300 shares during the period. Toth Financial Advisory Corp lifted its stake in Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after buying an additional 300 shares in the last quarter. Clearstead Trust LLC lifted its stake in Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after buying an additional 305 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Comcast by 0.6% during the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock valued at $1,999,000 after acquiring an additional 310 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of Comcast stock opened at $32.16 on Thursday. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The firm's 50-day moving average price is $34.66 and its two-hundred day moving average price is $35.03. 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 stock has a market capitalization of $120.08 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 1.95 and a beta of 0.92.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Wall Street Analyst Weigh In

Several analysts recently commented on CMCSA shares. Scotiabank raised their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. TD Cowen decreased their price objective on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. Moffett Nathanson boosted their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. lowered their price objective on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, KeyCorp reduced their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.

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