Certuity LLC Buys 17,593 Shares of Comcast Corporation $CMCSA

Key Points

• Certuity LLC increased its stake in Comcast Corporation by 23.1%, acquiring a total of 93,704 shares now valued at approximately $3.44 million.
• Comcast announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 4.0% and a payout ratio of 21.82%.
• Analysts have recently adjusted price targets for Comcast, with estimates ranging from $30.00 to $46.00, while the average rating remains a "Hold" with a price target of $40.73.

Certuity LLC grew its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,704 shares of the cable giant's stock after purchasing an additional 17,593 shares during the period. Certuity LLC's holdings in Comcast were worth $3,443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter worth $26,000. Abound Financial LLC purchased a new position in Comcast in the first quarter worth $29,000. Retirement Wealth Solutions LLC grew its position in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the fourth quarter worth $33,000. Finally, Global Wealth Strategies & Associates grew its position in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CMCSA shares. Bernstein Bank cut their target price 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. TD Cowen lowered their price target on shares of Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Morgan Stanley lowered their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Finally, Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.73.

Comcast Stock Up 0.9%

Shares of NASDAQ:CMCSA traded up $0.2880 during trading on Tuesday, reaching $33.7180. 6,225,660 shares of the stock traded hands, compared to its average volume of 24,281,488. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average of $34.33 and a two-hundred day moving average of $34.78. The stock has a market cap of $124.49 billion, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

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

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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.