Topsail Wealth Management LLC Purchases New Holdings in Comcast Corporation (NASDAQ:CMCSA)

Topsail Wealth Management LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 7,945 shares of the cable giant's stock, valued at approximately $293,000.

A number of other hedge funds have also recently bought and sold shares of CMCSA. Norges Bank acquired a new position in shares of Comcast in the 4th quarter valued at $3,835,226,000. Capital World Investors lifted its stake in shares of Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. KBC Group NV lifted its stake in shares of Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Finally, Dodge & Cox lifted its stake in shares of Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.38 during trading on Wednesday, reaching $35.62. 14,740,741 shares of the company's stock were exchanged, compared to its average volume of 21,984,336. The business has a 50 day moving average price of $34.89 and a 200-day moving average price of $35.47. The stock has a market capitalization of $132.99 billion, a P/E ratio of 8.75, a PEG ratio of 1.71 and a beta of 0.95. 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 Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's payout ratio is 32.43%.

Analyst Ratings Changes

Several brokerages recently commented on CMCSA. The Goldman Sachs Group dropped their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. KeyCorp reduced their target price on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Barclays dropped their price target on Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. BNP Paribas cut Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research report on Thursday, April 10th. Finally, Argus lowered Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $40.96.

Comcast 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.