Elevation Point Wealth Partners LLC Boosts Position in Comcast Corporation $CMCSA

Key Points

• Elevation Point Wealth Partners increased its Comcast stake by 5.4% in the first quarter, buying 50,606 additional shares and bringing its total holding to 987,693 shares worth about $28.4 million.
• Comcast continues to be heavily owned by institutions, with hedge funds and other institutional investors holding 84.32% of the stock overall.
• Analyst sentiment remains mixed: Goldman Sachs cut its price target to $26 and kept a neutral rating, while other firms upgraded the stock, leaving Comcast with a consensus Hold rating and an average target price of $34.40.

Elevation Point Wealth Partners LLC raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 987,693 shares of the cable giant's stock after acquiring an additional 50,606 shares during the period. Comcast makes up about 0.7% of Elevation Point Wealth Partners LLC's portfolio, making the stock its 28th biggest position. Elevation Point Wealth Partners LLC's holdings in Comcast were worth $28,357,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. State Street Corp lifted its position in Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors boosted its holdings in Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox grew its position in Comcast by 0.4% during the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock worth $3,376,599,000 after purchasing an additional 399,596 shares during the period. Finally, Geode Capital Management LLC grew its position in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMCSA has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday. Royal Bank Of Canada raised their target price on Comcast from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday. Evercore boosted their price target on Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Rosenblatt Securities upgraded Comcast from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $24.00 to $31.00 in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $34.40.

Trending Headlines about Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has a strong earnings surprise track record, and recent Zacks/Yahoo analysis says its current setup could lead to another beat when it reports next quarter, which can lift investor confidence ahead of results.
• Positive Sentiment: Investors are seeing strategic optionality from Comcast’s planned separation of its media and technology businesses, including NBCUniversal and Sky, which could unlock value and sharpen the focus on the core broadband business. Comcast’s NBCUniversal Split Puts Broadband Back in Focus
• Positive Sentiment: Some commentary suggests Comcast’s cable-box viewing data could help its ad business in targeted streaming and connected TV, offering a potential way to offset decline in traditional pay TV.
• Neutral Sentiment: Goldman Sachs lowered its price target on Comcast to $26 from $29 and kept a neutral rating, signaling more cautious expectations even though the new target still implies upside from current levels.
• Neutral Sentiment: Coverage ahead of earnings highlights that investors are watching for execution on the spin-off, broadband trends, and margin pressure, keeping the stock tied to both near-term results and the breakup story.
• Negative Sentiment: Several reports note that Comcast shares have been under pressure recently because of tougher broadband competition, margin concerns, and lingering weakness in the stock’s longer-term performance.
• Negative Sentiment: There are also risks around Comcast’s data-driven advertising strategy, including viewer experience, churn, and privacy regulation, which could limit how much benefit the company gets from streaming ads.

Comcast Trading Up 0.3%

Shares of Comcast stock opened at $23.79 on Friday. The firm has a 50-day simple moving average of $24.86 and a two-hundred day simple moving average of $27.95. The company has a market cap of $84.98 billion, a P/E ratio of 4.68, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the company posted $1.09 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Comcast Corporation will post 3.5 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Comcast's dividend payout ratio is currently 25.98%.

Comcast 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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