First Pacific Financial Grows Stock Holdings in Comcast Corporation $CMCSA

Key Points

• First Pacific Financial significantly increased its stake in Comcast Corporation by over 12,500% during Q2, owning now 65,528 shares worth approximately $2.34 million.
• Comcast has a current ratio and quick ratio of 0.91, with a debt-to-equity ratio of 0.99, indicating healthy financial leverage for the company.
• The company announced a quarterly dividend of $0.33 per share, reflecting a dividend yield of 4.2%, with an annualized dividend total of $1.32.

First Pacific Financial boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12,501.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,528 shares of the cable giant's stock after purchasing an additional 65,008 shares during the quarter. First Pacific Financial's holdings in Comcast were worth $2,339,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Advisor OS LLC raised its stake in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after acquiring an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in Comcast during the first quarter valued at $335,000. DAVENPORT & Co LLC increased its position in Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC increased its position in Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock valued at $2,632,000 after acquiring an additional 23,607 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Rosenblatt Securities upped their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Moffett Nathanson upped their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, September 12th. UBS Group cut their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Finally, Benchmark restated a "buy" rating on shares of Comcast in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $40.11.

Comcast Stock Down 0.2%

Shares of Comcast stock opened at $31.42 on Wednesday. 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 $31.03 and a 1 year high of $45.31. The firm's 50-day moving average is $32.98 and its two-hundred day moving average is $34.26. The stock has a market cap of $116.01 billion, a price-to-earnings ratio of 5.19, a PEG ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The company 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 firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. As a group, research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given 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 of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is presently 21.82%.

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.

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