Constitution Capital LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Constitution Capital LLC bought a new position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,700 shares of the cable giant's stock, valued at approximately $838,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chemistry Wealth Management LLC increased its holdings in shares of Comcast by 81.5% in the 1st quarter. Chemistry Wealth Management LLC now owns 19,186 shares of the cable giant's stock worth $708,000 after acquiring an additional 8,614 shares during the period. Pines Wealth Management LLC increased its holdings in shares of Comcast by 27.6% in the 1st quarter. Pines Wealth Management LLC now owns 11,092 shares of the cable giant's stock worth $409,000 after acquiring an additional 2,401 shares during the period. Procyon Advisors LLC increased its holdings in shares of Comcast by 21.4% in the 1st quarter. Procyon Advisors LLC now owns 169,883 shares of the cable giant's stock worth $6,170,000 after acquiring an additional 29,897 shares during the period. Davis Capital Management increased its holdings in shares of Comcast by 3.2% in the 1st quarter. Davis Capital Management now owns 41,081 shares of the cable giant's stock worth $1,516,000 after acquiring an additional 1,282 shares during the period. Finally, Stablepoint Partners LLC increased its holdings in shares of Comcast by 13.9% in the 1st quarter. Stablepoint Partners LLC now owns 44,962 shares of the cable giant's stock worth $1,659,000 after acquiring an additional 5,476 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMCSA. Scotiabank reaffirmed a "sector perform" rating and issued a $44.50 price objective (down previously from $45.00) on shares of Comcast in a report on Friday, April 25th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research note on Thursday, April 10th. Oppenheimer lowered their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. UBS Group set a $44.50 target price on shares of Comcast in a research note on Friday, April 25th. Finally, Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Stock Performance

NASDAQ:CMCSA opened at $34.70 on Friday. Comcast Co. has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $34.39 and a 200-day moving average of $36.43. The firm has a market cap of $129.56 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. During the same period last year, the company posted $1.04 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. Analysts forecast that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's payout ratio is 32.43%.

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.

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