Smith Chas P & Associates PA Cpas Purchases 42,998 Shares of Comcast Corporation $CMCSA

Key Points

• Smith Chas P & Associates PA Cpas increased its investment in Comcast Corporation by purchasing 42,998 shares, raising its overall stake by 6.1% to a total of 743,614 shares, valued at approximately $26.54 million.
• Comcast recently announced a quarterly dividend of $0.33 per share, set to be paid on October 22nd, offering a dividend yield of 4.2%.
• Despite a recent earnings report showing a 2.1% revenue increase year-over-year, several analysts have adjusted their price targets downward, reflecting mixed market sentiments.

Smith Chas P & Associates PA Cpas raised its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 743,614 shares of the cable giant's stock after purchasing an additional 42,998 shares during the quarter. Comcast accounts for about 1.5% of Smith Chas P & Associates PA Cpas' investment portfolio, making the stock its 29th largest position. Smith Chas P & Associates PA Cpas' holdings in Comcast were worth $26,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the first quarter valued at approximately $26,000. Cranbrook Wealth Management LLC boosted its position in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares during the last quarter. Abound Financial LLC bought a new stake in Comcast in the 1st quarter valued at $29,000. Finally, Ransom Advisory Ltd purchased a new stake in Comcast in the 1st quarter worth $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of Comcast stock opened at $31.72 on Monday. The company has a market capitalization of $117.12 billion, a PE ratio of 5.24, a P/E/G ratio of 1.90 and a beta of 0.93. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $33.13 and a two-hundred day simple moving average of $34.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed 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 4.2%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analysts Set New Price Targets

CMCSA has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. Loop Capital lowered their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Scotiabank lifted 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. Benchmark restated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of "Hold" and an average target price of $40.19.

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.

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