Focus Partners Advisor Solutions LLC Raises Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Comcast Corporation by 51.2%, owning a total of 58,708 shares valued at approximately $2.17 million.
• Comcast's recent quarterly earnings surpassed analysts' expectations, reporting $1.25 earnings per share and revenue of $30.31 billion, marking a 2.1% year-over-year increase.
• The company declared a quarterly dividend of $0.33 per share, which results in an annual dividend yield of 3.9%.

Focus Partners Advisor Solutions LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 51.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,708 shares of the cable giant's stock after buying an additional 19,870 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Comcast were worth $2,166,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast during the first quarter worth about $26,000. Abound Financial LLC acquired a new stake in Comcast during the first quarter worth about $29,000. Retirement Wealth Solutions LLC grew its stake 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 buying an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Comcast during the fourth quarter worth about $33,000. Finally, Global Wealth Strategies & Associates grew its stake in Comcast by 203.4% during 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 in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 0.1%

Shares of Comcast stock traded down $0.04 on Friday, hitting $33.91. The stock had a trading volume of 21,111,306 shares, compared to its average volume of 19,302,668. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The stock has a market cap of $125.20 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 2.03 and a beta of 0.93. The stock's 50-day simple moving average is $34.03 and its two-hundred day simple moving average is $34.68.

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. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMCSA. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Citigroup reiterated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Rothschild & Co Redburn lowered their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Scotiabank lifted their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley lowered their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.73.

About Comcast

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.