Steward Partners Investment Advisory LLC Acquires 7,490 Shares of Comcast Corporation $CMCSA

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Comcast Corporation by 1.2%, bringing its total holdings to 632,498 shares valued at approximately $23.34 million.
• Comcast reported a Q2 earnings per share (EPS) of $1.25, exceeding analysts' expectations, with revenue of $30.31 billion, showcasing a 2.1% growth year-over-year.
• The company recently declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 3.9% and a payout ratio of 21.82%.

Steward Partners Investment Advisory LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 632,498 shares of the cable giant's stock after purchasing an additional 7,490 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Comcast were worth $23,339,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new stake in shares of Comcast in the first quarter valued at about $26,000. Abound Financial LLC acquired a new position in shares of Comcast in the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC increased its position in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Comcast during the fourth quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates increased its position in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. New Street Research reduced their price objective on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group lowered their price objective on shares of Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Rothschild & Co Redburn reduced their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Stock Up 0.9%

NASDAQ CMCSA traded up $0.31 during trading on Thursday, reaching $33.60. The company's stock had a trading volume of 15,709,200 shares, compared to its average volume of 24,272,633. The business has a 50-day moving average price of $34.26 and a 200-day moving average price of $34.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The stock has a market capitalization of $124.06 billion, a PE ratio of 5.55, a PEG ratio of 2.03 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period in the previous year, the company earned $1.21 earnings per share. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

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.