Comcast Corporation $CMCSA Shares Acquired by Providence Capital Advisors LLC

Key Points

• Providence Capital Advisors LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 6.8%, now owning approximately 161,972 shares valued at about $5.98 million.
• Comcast's recent earnings report exceeded expectations, with $1.25 EPS for the quarter, surpassing the consensus estimate of $1.18.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized dividend of $1.32 and a yield of 4.0%.

Providence Capital Advisors LLC increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 161,972 shares of the cable giant's stock after purchasing an additional 10,300 shares during the quarter. Providence Capital Advisors LLC's holdings in Comcast were worth $5,977,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new position in shares of Comcast in the first quarter worth $29,000. Retirement Wealth Solutions LLC lifted its position in shares of 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 acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates increased its position in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CMCSA. Rosenblatt Securities raised their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Bernstein Bank cut their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group lowered their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Oppenheimer reduced their target price on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.73.

Comcast Trading Down 1.8%

Shares of CMCSA stock traded down $0.60 during mid-day trading on Wednesday, reaching $33.29. The company's stock had a trading volume of 20,289,539 shares, compared to its average volume of 24,165,296. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $122.91 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92. The company's 50 day simple moving average is $34.26 and its 200-day simple moving average is $34.76. Comcast Corporation has a 12-month low of $31.03 and a 12-month 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 earnings per share 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 during 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. On average, research analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Comcast 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.