Sequoia Financial Advisors LLC Boosts Holdings in Comcast Corporation $CMCSA

Key Points

• Sequoia Financial Advisors increased its Comcast stake by 10.3% in the first quarter, buying 55,737 additional shares and bringing its total holding to 597,819 shares worth about $17.2 million.
• Comcast shares rose 1.0% to $23.57, near their 52-week low of $22.13, while institutional ownership remains high at 84.32% of the stock.
• The company recently beat quarterly earnings and revenue expectations, and it also announced a quarterly dividend of $0.33 per share, equal to a 5.6% annualized yield.

Sequoia Financial Advisors LLC lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 597,819 shares of the cable giant's stock after purchasing an additional 55,737 shares during the period. Sequoia Financial Advisors LLC's holdings in Comcast were worth $17,163,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new stake in shares of Comcast during the third quarter worth $26,000. United Financial Planning Group LLC purchased a new position in Comcast in the third quarter valued at $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast during the 4th quarter worth $27,000. Whipplewood Advisors LLC grew its stake in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Comcast during the 4th quarter worth about $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 1.0%

CMCSA stock traded up $0.23 during trading on Friday, hitting $23.57. 25,483,585 shares of the company's stock were exchanged, compared to its average volume of 40,679,600. The business has a 50-day moving average price of $24.27 and a two-hundred day moving average price of $27.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $84.20 billion, a price-to-earnings ratio of 4.64, a PEG ratio of 1.94 and a beta of 0.67. Comcast Corporation has a 52-week low of $22.13 and a 52-week high of $36.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to analysts' expectations of $30.42 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Wednesday, July 1st. Comcast's dividend payout ratio (DPR) is currently 25.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMCSA shares. Scotiabank lifted their price objective on Comcast from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Moffett Nathanson cut their target price on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Citigroup reduced their target price on shares of Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. BNP Paribas Exane decreased their price target on shares of Comcast from $26.00 to $25.00 and set an "underperform" rating for the company in a research note on Wednesday, April 8th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Comcast in a report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $34.04.

Comcast Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.