8,099 Shares in Comcast Corporation $CMCSA Acquired by Financial Advisors Network Inc.

Key Points

• Financial Advisors Network Inc. has acquired 8,099 shares of Comcast Corporation, valued at approximately $299,000, during the first quarter.
• Comcast has a strong institutional presence, with 84.32% of its stock owned by hedge funds and other institutional investors.
• The company announced a quarterly dividend of $0.33 per share, representing a yield of 3.9% for shareholders of record on October 1st.

Financial Advisors Network Inc. acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,099 shares of the cable giant's stock, valued at approximately $299,000.

Other large investors have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in shares of Comcast during the 1st quarter worth $26,000. Abound Financial LLC purchased a new stake in Comcast during the first quarter valued at about $29,000. Retirement Wealth Solutions LLC boosted its position 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 purchasing an additional 448 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast in the fourth quarter worth about $33,000. Finally, Global Wealth Strategies & Associates raised its position in shares of Comcast by 203.4% in the first 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 period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.55 on Friday, hitting $34.15. The company's stock had a trading volume of 25,267,336 shares, compared to its average volume of 24,360,090. The company has a market capitalization of $126.09 billion, a PE ratio of 5.64, a PEG ratio of 2.01 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. The company has a 50-day simple moving average of $34.21 and a 200 day simple moving average of $34.77. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. Sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Comcast's dividend payout ratio is presently 21.82%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays cut their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Morgan Stanley cut their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Citigroup reduced their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, BNP Paribas Exane reduced their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Comcast currently 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.