Comcast Corporation (NASDAQ:CMCSA) Shares Purchased by ProVise Management Group LLC

Key Points

• ProVise Management Group LLC increased its holdings in Comcast Corporation by 4.6%, acquiring an additional 20,843 shares, bringing its total to 471,670 shares valued at approximately $17.4 million.
• Institutional ownership of Comcast is significant, with 84.32% of the stock held by institutional investors and hedge funds.
• Comcast reported a quarterly earnings per share of $1.25, exceeding expectations and marking a 2.1% revenue increase from the same quarter last year.

ProVise Management Group LLC grew its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 471,670 shares of the cable giant's stock after acquiring an additional 20,843 shares during the quarter. Comcast accounts for approximately 1.5% of ProVise Management Group LLC's holdings, making the stock its 19th largest holding. ProVise Management Group LLC's holdings in Comcast were worth $17,405,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its holdings in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the period. Bryce Point Capital LLC acquired a new stake in shares of Comcast during the fourth quarter worth about $470,000. OneAscent Financial Services LLC lifted its holdings in shares of Comcast by 30.6% during the fourth quarter. OneAscent Financial Services LLC now owns 14,447 shares of the cable giant's stock worth $542,000 after purchasing an additional 3,385 shares during the period. World Investment Advisors lifted its holdings in Comcast by 1.5% in the fourth quarter. World Investment Advisors now owns 258,466 shares of the cable giant's stock valued at $9,700,000 after acquiring an additional 3,921 shares during the period. Finally, Arete Wealth Advisors LLC boosted its position in Comcast by 7.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 50,206 shares of the cable giant's stock worth $1,883,000 after purchasing an additional 3,531 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent research reports. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Rothschild & Co Redburn reduced their target price on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. TD Cowen reduced their target price on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Scotiabank boosted their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Comcast presently has a consensus rating of "Hold" and a consensus price target of $40.73.

Comcast Stock Up 0.1%

Shares of CMCSA stock traded up $0.04 during trading hours on Monday, reaching $32.56. 29,153,651 shares of the stock were exchanged, compared to its average volume of 24,560,709. The firm has a market capitalization of $121.57 billion, a P/E ratio of 5.38, a P/E/G ratio of 1.57 and a beta of 0.92. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. 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 business's fifty day moving average is $34.79 and its two-hundred day moving average is $35.09.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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.