Valley Wealth Managers Inc. Grows Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Valley Wealth Managers Inc. increased its stake in Comcast Corporation by 30.5%, owning 114,971 shares worth $4,242,000 as of the latest SEC filing.
• Comcast reported $1.09 earnings per share, surpassing analysts' expectations of $1.01, and its revenue for the quarter was $29.89 billion, slightly above estimates.
• The company declared a quarterly dividend of $0.33 per share, providing an annualized yield of 3.92% with a dividend payout ratio of 32.43%.

Valley Wealth Managers Inc. boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 30.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,971 shares of the cable giant's stock after purchasing an additional 26,843 shares during the period. Valley Wealth Managers Inc.'s holdings in Comcast were worth $4,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after buying an additional 12,586,329 shares in the last quarter. Capital World Investors grew its stake in Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. KBC Group NV increased its position in shares of Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after acquiring an additional 8,928,641 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Finally, Dodge & Cox boosted its holdings in shares of Comcast by 6.8% in the fourth 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 owned by hedge funds and other institutional investors.

Comcast Trading Down 4.8%

Shares of Comcast stock opened at $33.68 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The firm has a market capitalization of $125.75 billion, a PE ratio of 8.28, a P/E/G ratio of 1.72 and a beta of 0.95. The firm's 50-day moving average price is $35.01 and its 200 day moving average price is $35.24.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same quarter last year, the firm posted $1.04 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.92%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Wall Street Analyst Weigh In

A number of research firms have commented on CMCSA. Evercore ISI cut their target price on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. TD Cowen cut their price objective on shares of Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company downgraded shares of Comcast from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas Exane lowered their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a report on Friday, April 25th. Finally, Rothschild & Co Redburn cut their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.13.

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.

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