Sowell Financial Services LLC Has $1.68 Million Position in Comcast Corporation $CMCSA

Key Points

• Sowell Financial Services LLC has increased its holdings in Comcast Corporation by 52.1%, bringing its total shares to 47,040 and valuation to $1.68 million.
• Comcast recently reported $30.31 billion in quarterly revenue, exceeding analysts' expectations, and showed a year-over-year earnings per share increase of 2.1%.
• The company declared a quarterly dividend of $0.33 per share, with an annual yield of 4.2%, to be paid on October 22.

Sowell Financial Services LLC increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 52.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,040 shares of the cable giant's stock after acquiring an additional 16,112 shares during the quarter. Sowell Financial Services LLC's holdings in Comcast were worth $1,679,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CMCSA. Inlight Wealth Management LLC bought a new position in Comcast in the 1st quarter valued at about $26,000. Abound Financial LLC bought a new stake in shares of Comcast during the 1st quarter valued at approximately $29,000. Ransom Advisory Ltd bought a new stake in shares of Comcast during the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC boosted 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 buying an additional 448 shares during the period. Finally, Global Wealth Strategies & Associates boosted 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 buying an additional 600 shares during the period. 84.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein reduced their price objective on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 10th. Rothschild & Co Redburn decreased their price target on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Loop Capital decreased their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Monday. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Finally, UBS Group decreased their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of "Hold" and an average price target of $40.22.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.49 on Tuesday. The company has a 50 day moving average price of $33.37 and a 200-day moving average price of $34.41. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The firm has a market capitalization of $116.27 billion, a PE ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly 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. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. Comcast's quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 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.

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