Western Wealth Management LLC Raises Holdings in Comcast Corporation $CMCSA

Key Points

• Western Wealth Management increased its Comcast stake by 421.3% in the first quarter, ending with 71,828 shares valued at approximately $2.06 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast reported quarterly EPS of $1.04, exceeding the $0.97 consensus estimate, while revenue of $29.94 billion also topped forecasts; however, revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33, equivalent to $1.32 annually and a 5.1% yield. Analysts’ consensus rating is “Hold,” with an average price target of $32.96 versus the reported share price of $25.65.

Western Wealth Management LLC raised its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 421.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,828 shares of the cable giant's stock after purchasing an additional 58,049 shares during the period. Western Wealth Management LLC's holdings in Comcast were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant's stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. State Street Corp increased its position in shares of Comcast by 3.4% in the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Capital World Investors raised its holdings in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Dodge & Cox raised its holdings in shares of Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant's stock valued at $3,376,599,000 after purchasing an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant's stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of CMCSA opened at $25.65 on Wednesday. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The stock has a market cap of $91.02 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $23.70 and a 200 day moving average price of $26.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the company posted $1.25 earnings per share. The business's quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.1%. Comcast's dividend payout ratio is 42.72%.

Analysts Set New Price Targets

A number of brokerages recently commented on CMCSA. Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the stock an "underweight" rating in a research note on Friday, July 24th. Weiss Ratings downgraded Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Morgan Stanley set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Citigroup dropped their price objective on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Finally, New Street Research cut their target price on Comcast from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.96.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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