Avidian Wealth Solutions LLC Raises Position in Comcast Co. (NASDAQ:CMCSA)

Avidian Wealth Solutions LLC increased its position in shares of Comcast Co. (NASDAQ:CMCSAFree Report) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,001 shares of the cable giant’s stock after purchasing an additional 1,640 shares during the period. Avidian Wealth Solutions LLC’s holdings in Comcast were worth $650,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Luken Investment Analytics LLC grew its position in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after buying an additional 418 shares during the period. Steph & Co. grew its holdings in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its stake in Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after purchasing an additional 475,675 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Comcast during the fourth quarter worth $28,000. Finally, Pineridge Advisors LLC purchased a new stake in Comcast during the fourth quarter worth $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA traded down $0.08 during trading hours on Wednesday, hitting $37.43. 19,193,874 shares of the stock were exchanged, compared to its average volume of 20,410,691. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The stock has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $41.05. The stock has a market cap of $146.86 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00.

Comcast (NASDAQ:CMCSAGet Free Report) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. Comcast’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is 32.80%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Macquarie cut their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Scotiabank cut their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group started coverage on shares of Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Finally, Citigroup reduced their price target on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $48.53.

Check Out Our Latest Analysis on Comcast

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

Comcast Profile

(Free Report)

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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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