Empower Advisory Group LLC Buys 156,764 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Empower Advisory Group LLC increased its stake in Comcast Corporation by 8.0%, acquiring an additional 156,764 shares, bringing their total holdings to approximately 2.1 million shares valued at $77.67 million.
• Institutional investors own 84.32% of Comcast's stock, with other entities like Brighton Jones LLC and Invesco Ltd. also significantly boosting their positions in recent quarters.
• Comcast's recent quarterly earnings surpassed estimates with $1.25 EPS and revenue of $30.31 billion, while the company also declared a $0.33 quarterly dividend with a yield of 4.1%.

Empower Advisory Group LLC raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,104,750 shares of the cable giant's stock after buying an additional 156,764 shares during the period. Empower Advisory Group LLC owned about 0.06% of Comcast worth $77,665,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast during the 1st quarter valued at about $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 increased its stake in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast in the fourth quarter worth $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Comcast by 203.4% in 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. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.49 during trading hours on Thursday, hitting $31.67. 24,955,561 shares of the company's stock were exchanged, compared to its average volume of 22,320,210. The company's 50-day moving average price is $34.61 and its 200-day moving average price is $34.99. The stock has a market capitalization of $118.25 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 1.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CMCSA shares. JPMorgan Chase & Co. lowered their target price on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Arete Research raised shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Scotiabank upped their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a research report on Thursday, April 10th. Finally, KeyCorp cut their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $40.73.

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.