Kingstone Capital Partners Texas LLC Makes New Investment in Comcast Corporation $CMCSA

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $2.41 million in Comcast Corporation, acquiring 66,732 shares of the company.
• Comcast's stock has a current consensus rating of "Hold" with a price target averaging $40.56 among analysts.
• The company declared a quarterly dividend of $0.33 per share, representing a 4.2% dividend yield.

Kingstone Capital Partners Texas LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,732 shares of the cable giant's stock, valued at approximately $2,405,000.

Several other institutional investors have also modified their holdings of the stock. Inlight Wealth Management LLC purchased a new stake in Comcast during the 1st quarter worth approximately $26,000. Ransom Advisory Ltd acquired a new position in Comcast in the first quarter valued at approximately $29,000. Abound Financial LLC purchased a new position in shares of Comcast during the 1st quarter worth $29,000. Retirement Wealth Solutions LLC raised its stake in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the period. Finally, Global Wealth Strategies & Associates raised its position 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 during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMCSA. Scotiabank lifted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Loop Capital lowered their target price on shares of Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday. Rothschild & Co Redburn dropped their price target on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Benchmark reaffirmed 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 issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and an average target price of $40.22.

Comcast Trading Down 0.3%

CMCSA stock traded down $0.10 on Monday, hitting $31.49. 36,351,866 shares of the company were exchanged, compared to its average volume of 22,130,610. 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 twelve month low of $31.03 and a twelve month high of $45.31. The stock has a market capitalization of $116.27 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The business's fifty day moving average is $33.45 and its two-hundred day moving average is $34.46.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. As a group, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's 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.