Edgestream Partners L.P. Buys 171,718 Shares of Comcast Corporation (NASDAQ:CMCSA)

Edgestream Partners L.P. boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2,547.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,460 shares of the cable giant's stock after acquiring an additional 171,718 shares during the period. Edgestream Partners L.P.'s holdings in Comcast were worth $6,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the 1st quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in shares of Comcast in the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC grew its position in shares of Comcast by 126.9% in 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 purchased a new stake in shares of Comcast in the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates grew its position in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

CMCSA stock traded down $0.92 during midday trading on Tuesday, reaching $34.72. 16,843,054 shares of the company's stock traded hands, compared to its average volume of 21,961,402. The company has a 50-day moving average price of $34.98 and a two-hundred day moving average price of $35.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The firm has a market capitalization of $129.63 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

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

Analyst Upgrades and Downgrades

CMCSA has been the topic of several recent research reports. BNP Paribas Exane lowered their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a research note on Friday, April 25th. Scotiabank lifted their price objective on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday. Rothschild & Co Redburn decreased their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Barclays cut 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. Finally, Morgan Stanley set a $37.00 price target on shares of Comcast in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Comcast currently has a consensus rating of "Hold" and an average price target of $40.98.

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.