31,681 Shares in Comcast Corporation (NASDAQ:CMCSA) Bought by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC has purchased a new stake in Comcast Corporation valued at approximately $1.17 million, acquiring 31,681 shares during the first quarter.
• Multiple institutional investors have also increased their positions in Comcast, with one firm growing its holdings by an astonishing 1,959.3%, demonstrating significant investor confidence.
• Despite recent target price cuts from several analysts, Comcast maintains an average rating of "Hold" with a projected EPS of 4.33 for the current fiscal year.

Drive Wealth Management LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 31,681 shares of the cable giant's stock, valued at approximately $1,169,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Inlight Wealth Management LLC acquired a new position in Comcast during the first quarter worth $26,000. Abound Financial LLC acquired a new position in Comcast during the first quarter worth $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Comcast during the fourth quarter worth $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMCSA. JPMorgan Chase & Co. lowered their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Scotiabank increased their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, KeyCorp lowered their target price on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eleven have issued 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.com, the stock has a consensus rating of "Hold" and an average price target of $41.13.

Comcast Price Performance

Comcast stock traded down $0.27 during mid-day trading on Tuesday, hitting $33.27. 11,240,854 shares of the company traded hands, compared to its average volume of 24,193,424. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The stock has a market cap of $124.20 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average price of $34.97 and a 200-day moving average price of $35.20.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.97%. 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.