Procyon Advisors LLC Acquires 29,897 Shares of Comcast Co. (NASDAQ:CMCSA)

Procyon Advisors LLC boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 21.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,883 shares of the cable giant's stock after purchasing an additional 29,897 shares during the period. Procyon Advisors LLC's holdings in Comcast were worth $6,170,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Comcast during the 4th quarter worth about $3,835,226,000. Raymond James Financial Inc. bought a new stake in shares of Comcast during the 4th quarter valued at $743,681,000. Amundi lifted its position in Comcast by 147.9% during the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant's stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the period. Capital World Investors boosted its position in shares of Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Oppenheimer decreased their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Scotiabank reiterated a "sector perform" rating and issued a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research note on Friday, April 25th. Barclays reduced their price target on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Citigroup dropped their target price on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Stock Performance

Shares of CMCSA stock opened at $34.22 on Friday. The stock has a market capitalization of $127.77 billion, a P/E ratio of 8.25, a PEG ratio of 1.78 and a beta of 0.97. Comcast Co. has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The firm's 50 day moving average is $34.43 and its 200 day moving average is $36.48.

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

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.86%. Comcast's payout ratio is 32.43%.

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.

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