LVW Advisors LLC Acquires 17,742 Shares of Comcast Corporation $CMCSA

Key Points

• LVW Advisors LLC has increased its stake in Comcast Corporation by 48.9%, acquiring an additional 17,742 shares, bringing its total holdings to 54,019 shares worth approximately $1.93 million.
• Comcast reported earnings of $1.25 per share for the latest quarter, exceeding analysts' expectations and showing a 2.1% year-over-year revenue increase to $30.31 billion.
• The company announced a quarterly dividend of $0.33 per share, yielding 4.2%, with the payout to be made on October 22nd.

LVW Advisors LLC increased its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,019 shares of the cable giant's stock after acquiring an additional 17,742 shares during the period. LVW Advisors LLC's holdings in Comcast were worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CMCSA. Inlight Wealth Management LLC bought a new position in shares of Comcast in the first quarter valued at approximately $26,000. Cranbrook Wealth Management LLC lifted its stake in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Abound Financial LLC purchased a new position in Comcast in the first quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new position in Comcast in the first quarter valued at approximately $29,000. Finally, Retirement Wealth Solutions LLC lifted its stake in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 0.3%

NASDAQ CMCSA opened at $31.72 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $117.12 billion, a PE ratio of 5.24, a PEG ratio of 1.90 and a beta of 0.93. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The business's 50-day moving average is $33.13 and its 200 day moving average is $34.32.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted 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 return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same period last year, the firm earned $1.21 earnings per share. Comcast's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CMCSA shares. Sanford C. Bernstein dropped their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. 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, September 22nd. Rothschild & Co Redburn reduced their price objective on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. UBS Group reduced their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Finally, Benchmark reaffirmed a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $40.19.

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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