Scissortail Wealth Management LLC Has $1.99 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Scissortail Wealth Management LLC increased its stake in Comcast Corporation by 65.1% during the first quarter, now owning 54,018 shares valued at approximately $1.993 million.
• Around 84.32% of Comcast's stock is owned by institutional investors and hedge funds, with notable increases in holdings from entities like Entropy Technologies LP and Berger Financial Group Inc.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 4.2%, with the ex-dividend date set for October 1st.

Scissortail Wealth Management LLC increased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 65.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,018 shares of the cable giant's stock after buying an additional 21,300 shares during the period. Scissortail Wealth Management LLC's holdings in Comcast were worth $1,993,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter worth $26,000. Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC increased its position in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Comcast during the 4th quarter worth about $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. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley dropped their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Scotiabank raised their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Barclays reduced their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $40.73.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.84 on Wednesday, hitting $32.94. 29,664,919 shares of the stock traded hands, compared to its average volume of 24,484,240. 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 company has a market capitalization of $121.62 billion, a PE ratio of 5.44, a PEG ratio of 1.89 and a beta of 0.92. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company's fifty day moving average is $34.44 and its 200 day moving average is $34.86.

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. The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's dividend payout ratio (DPR) is 21.82%.

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.