Patriot Financial Group Insurance Agency LLC Buys 13,530 Shares of Comcast Corporation $CMCSA

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Comcast by 13.3% by acquiring 13,530 additional shares, bringing its total holdings to 115,416 shares valued at $4,119,000.
• Comcast's stock saw a 1.7% decline recently, trading at $30.40, with a market cap of $112.24 billion and a PE ratio of 5.02.
• The company announced a quarterly dividend of $0.33, indicating an annualized payout of $1.32, with a dividend yield of 4.3% and a payout ratio of 21.82%.

Patriot Financial Group Insurance Agency LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,416 shares of the cable giant's stock after acquiring an additional 13,530 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Comcast were worth $4,119,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CMCSA. Nuveen LLC bought a new position in shares of Comcast in the 1st quarter worth $940,015,000. Dodge & Cox increased its position in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. increased its position in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after buying an additional 12,586,329 shares in the last quarter. KBC Group NV increased its position in Comcast by 724.7% during the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after buying an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Comcast by 119.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock valued at $280,238,000 after buying an additional 4,128,434 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 1.7%

Comcast stock opened at $30.40 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The business's 50-day simple moving average is $32.79 and its two-hundred day simple moving average is $34.20. The company has a market cap of $112.24 billion, a PE ratio of 5.02, a PEG ratio of 1.81 and a beta of 0.94. Comcast Corporation has a fifty-two week low of $30.38 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast's dividend payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CMCSA shares. UBS Group reduced their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Morgan Stanley reduced their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Loop Capital reduced their target price on Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday. Moffett Nathanson upped their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, Benchmark reiterated 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.07.

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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