Gries Financial LLC Buys 23,576 Shares of Comcast Corporation $CMCSA

Key Points

• Gries Financial LLC increased its stake in Comcast Corporation by 41.8% during the second quarter, acquiring an additional 23,576 shares, bringing its total to 80,015 shares valued at approximately $2.86 million.
• Several other institutional investors have also modified their stakes in Comcast, with notable increases from companies like Retirement Wealth Solutions LLC and Global Wealth Strategies & Associates.
• Comcast has a dividend yield of 4.2% and recently declared a quarterly dividend of $0.33 per share, reflecting a dividend payout ratio of 21.82%.

Gries Financial LLC lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 41.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,015 shares of the cable giant's stock after purchasing an additional 23,576 shares during the quarter. Gries Financial LLC's holdings in Comcast were worth $2,856,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Inlight Wealth Management LLC bought a new stake in Comcast during the first quarter valued at $26,000. Ransom Advisory Ltd bought a new stake in shares of Comcast during the 1st quarter valued at about $29,000. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter worth about $29,000. Retirement Wealth Solutions LLC increased its position in shares of Comcast by 126.9% in 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 last quarter. Finally, Global Wealth Strategies & Associates raised its stake in 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 in the last quarter. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Loop Capital reduced their target price on Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday. Arete Research raised Comcast to a "hold" rating in a research note on Tuesday, July 8th. Barclays reduced their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Benchmark restated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.22.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $31.49 on Tuesday. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The stock has a market capitalization of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93. The company's 50-day moving average is $33.37 and its 200 day moving average is $34.41. 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 (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's revenue for the quarter was up 2.1% on a year-over-year basis. 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 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 dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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.

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