Grimes & Company Inc. Has $7.97 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Grimes & Company Inc. raised its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,880 shares of the cable giant's stock after purchasing an additional 21,668 shares during the quarter. Grimes & Company Inc.'s holdings in Comcast were worth $7,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sculati Wealth Management LLC lifted its stake in Comcast by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after purchasing an additional 285 shares during the last quarter. Kovack Advisors Inc. lifted its stake in Comcast by 1.1% in the fourth quarter. Kovack Advisors Inc. now owns 26,470 shares of the cable giant's stock valued at $993,000 after purchasing an additional 300 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Comcast by 2.0% during the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after acquiring an additional 300 shares in the last quarter. Toth Financial Advisory Corp lifted its position in shares of Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after acquiring an additional 300 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its position in shares of Comcast by 1.7% during the first quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock worth $690,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CMCSA. Scotiabank restated a "sector perform" rating and set a $44.50 target price (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Rosenblatt Securities restated a "neutral" rating and set a $36.00 target price on shares of Comcast in a research report on Monday, April 28th. Argus downgraded Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Citigroup dropped their target price on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.10.

Comcast Stock Up 0.3%

CMCSA opened at $35.11 on Tuesday. The stock has a market cap of $131.09 billion, a PE ratio of 8.46, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31. The business's fifty day simple moving average is $34.51 and its 200 day simple moving average is $36.00.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. As a group, research analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.76%. Comcast's dividend payout ratio (DPR) is currently 32.43%.

Comcast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.