Econ Financial Services Corp Raises Position in Comcast Corporation (NASDAQ:CMCSA)

Econ Financial Services Corp increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,946 shares of the cable giant's stock after purchasing an additional 15,496 shares during the quarter. Comcast accounts for approximately 1.8% of Econ Financial Services Corp's portfolio, making the stock its 12th biggest position. Econ Financial Services Corp's holdings in Comcast were worth $3,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Promus Capital LLC acquired a new stake in shares of Comcast during the fourth quarter worth about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the first quarter valued at approximately $26,000. Retirement Wealth Solutions LLC increased its stake in Comcast by 126.9% during the 1st 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 period. Mpwm Advisory Solutions LLC acquired a new stake in Comcast during the 4th quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its position in Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

CMCSA traded up $0.37 during trading on Thursday, hitting $35.21. 15,953,947 shares of the stock were exchanged, compared to its average volume of 21,984,276. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The stock has a fifty day moving average price of $34.55 and a two-hundred day moving average price of $35.70. The firm has a market capitalization of $131.46 billion, a P/E ratio of 8.65, a PEG ratio of 1.70 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.75%. Comcast's payout ratio is 32.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMCSA shares. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target on the stock. in a research report on Thursday, April 10th. Wall Street Zen raised shares of Comcast from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 27th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Citigroup dropped their price objective on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Barclays reduced their price objective on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Company 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.