Greenup Street Wealth Management LLC Acquires 50,326 Shares of Comcast Corporation $CMCSA

Key Points

• Greenup Street Wealth Management acquired 50,326 Comcast shares in the third quarter, valued at approximately $1.095 million. Institutional investors collectively own 84.32% of the company.
• Comcast reported quarterly earnings of $1.07 per share, exceeding estimates of $0.99, while revenue reached $29.30 billion. However, revenue declined 6.1% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, representing an annualized yield of 5.7%. Analysts maintain a consensus “Hold” rating with a $29.17 price target.

Greenup Street Wealth Management LLC bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,326 shares of the cable giant's stock, valued at approximately $1,095,000.

Several other large investors have also recently bought and sold shares of CMCSA. Cedar Mountain Advisors LLC boosted its position in shares of Comcast by 48.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant's stock worth $34,000 after acquiring an additional 389 shares in the last quarter. PFG Investments LLC raised its position in shares of Comcast by 0.9% during the 1st quarter. PFG Investments LLC now owns 41,771 shares of the cable giant's stock worth $1,199,000 after acquiring an additional 391 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares in the last quarter. Bollard Group LLC raised its position in shares of Comcast by 1.1% during the 1st quarter. Bollard Group LLC now owns 37,607 shares of the cable giant's stock worth $1,080,000 after acquiring an additional 405 shares in the last quarter. Finally, Hunter Associates Investment Management LLC lifted its stake in Comcast by 6.3% during the first quarter. Hunter Associates Investment Management LLC now owns 7,299 shares of the cable giant's stock worth $211,000 after purchasing an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Up 4.3%

CMCSA opened at $23.22 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85. The business's 50 day moving average is $23.40 and its two-hundred day moving average is $26.09. The firm has a market cap of $82.45 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $29.30 billion during the quarter, compared to the consensus estimate of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company's revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. On average, research analysts predict that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be given a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.7%. Comcast's dividend payout ratio is 41.77%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $31.00 price target on shares of Comcast in a report on Monday, October 19th. Morgan Stanley cut their price objective on shares of Comcast from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Friday, September 25th. Citigroup reduced their price objective on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a research report on Thursday, September 24th. KeyCorp cut shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 target price for the company. in a report on Thursday, September 24th. Finally, Scotiabank lowered their target price on shares of Comcast from $29.00 to $27.50 and set a "sector perform" rating for the company in a report on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.17.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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