Palumbo Wealth Management LLC Has $2.43 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Palumbo Wealth Management LLC raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 43.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,772 shares of the cable giant's stock after purchasing an additional 19,982 shares during the period. Palumbo Wealth Management LLC's holdings in Comcast were worth $2,427,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Promus Capital LLC bought a new position in Comcast during the fourth quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Comcast during the 1st quarter valued at about $26,000. 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 in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Comcast in the 4th quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its position in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCSA has been the subject of a number of analyst reports. Morgan Stanley set a $37.00 price objective on shares of Comcast in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Comcast from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 27th. Oppenheimer dropped their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Finally, KeyCorp dropped their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Comcast has a consensus rating of "Moderate Buy" and an average price target of $42.10.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.62 on Tuesday, hitting $35.21. The stock had a trading volume of 24,318,495 shares, compared to its average volume of 22,017,886. The firm's 50 day moving average price is $34.53 and its 200-day moving average price is $35.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a market capitalization of $131.46 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. During the same period in the prior year, the firm earned $1.04 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

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.