Diversify Wealth Management LLC Buys 91,304 Shares of Comcast Corporation $CMCSA

Key Points

• Diversify Wealth Management LLC boosted its Comcast stake by 623.4% in the first quarter, buying 91,304 additional shares and bringing its total holdings to 105,951 shares worth about $2.84 million.
• Wall Street sentiment remains mixed on Comcast: analysts currently rate the stock a Hold overall, with an average price target of $33.88, though several firms recently trimmed their targets.
• Comcast reported solid quarterly results, topping earnings and revenue expectations, and it also announced a quarterly dividend of $0.33 per share, equal to a 5.5% yield.

Diversify Wealth Management LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 623.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,951 shares of the cable giant's stock after buying an additional 91,304 shares during the period. Diversify Wealth Management LLC's holdings in Comcast were worth $2,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Lowe Brockenbrough & Co. Inc. grew its stake in shares of Comcast by 4.9% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant's stock worth $225,000 after acquiring an additional 352 shares during the last quarter. Cora Capital Advisors LLC increased its holdings in shares of Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock valued at $329,000 after acquiring an additional 362 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Comcast by 7.4% in the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant's stock worth $164,000 after purchasing an additional 377 shares during the last quarter. WPG Advisers LLC boosted its stake in Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock worth $84,000 after purchasing an additional 384 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock worth $32,000 after purchasing an additional 384 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CMCSA shares. Moffett Nathanson reduced their price objective on shares of Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. The Goldman Sachs Group dropped their target price on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Comcast in a report on Monday, July 6th. Sanford C. Bernstein reissued a "market perform" rating and set a $28.00 price target on shares of Comcast in a research report on Monday. Finally, Wells Fargo & Company reduced their price target on shares of Comcast from $29.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, July 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comcast has a consensus rating of "Hold" and an average price target of $33.88.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $23.97 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $85.63 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67. The business has a 50-day simple moving average of $24.20 and a two-hundred day simple moving average of $27.66. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter last year, the firm posted $1.09 EPS. The business's quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.5%. Comcast's dividend payout ratio (DPR) is currently 25.98%.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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