Serenus Wealth Advisors LLC Has $6.90 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Serenus Wealth Advisors LLC significantly increased its stake in Comcast Corporation by 180.5% during the first quarter, acquiring a total of 187,002 shares now valued at approximately $6.9 million.
• Several institutional investors have also made moves, with hedge funds collectively owning 84.32% of Comcast's stock amidst varied ratings from analysts regarding price targets and current ratings.
• Comcast recently reported earnings of $1.09 per share, exceeding expectations and revealing a revenue of $29.89 billion for the quarter, albeit reflecting a 0.6% decline from the previous year.

Serenus Wealth Advisors LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 180.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,002 shares of the cable giant's stock after acquiring an additional 120,325 shares during the quarter. Comcast comprises approximately 0.8% of Serenus Wealth Advisors LLC's portfolio, making the stock its 15th biggest position. Serenus Wealth Advisors LLC's holdings in Comcast were worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CMCSA. Advisor OS LLC increased its position in shares of Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new position in shares of Comcast in the first quarter valued at approximately $335,000. Aviva PLC lifted its position in Comcast by 7.2% during the fourth quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock worth $87,359,000 after buying an additional 156,986 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after buying an additional 1,006,272 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.07 during midday trading on Wednesday, hitting $32.90. 15,745,638 shares of the company's stock were exchanged, compared to its average volume of 24,279,766. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The firm has a market cap of $122.82 billion, a P/E ratio of 8.10, a PEG ratio of 1.63 and a beta of 0.95. The stock's 50 day moving average price is $34.91 and its 200-day moving average price is $35.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is 32.43%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. KeyCorp lowered their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a report on Thursday, April 10th. Wells Fargo & Company lowered shares of Comcast from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. BNP Paribas Exane decreased their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. Finally, Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $41.13.

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.