Wedmont Private Capital Increases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Wedmont Private Capital lifted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,018 shares of the cable giant’s stock after buying an additional 5,600 shares during the quarter. Wedmont Private Capital’s holdings in Comcast were worth $1,380,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Steph & Co. lifted its stake in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Comcast in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in Comcast in the 2nd quarter worth approximately $27,000. IAG Wealth Partners LLC lifted its stake in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in Comcast in the 4th quarter worth approximately $32,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock opened at $41.10 on Friday. The firm has a market cap of $161.26 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $39.95 and its two-hundred day simple moving average is $39.49.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. As a group, equities analysts expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Ratings Changes

CMCSA has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. Pivotal Research lowered their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus price target of $45.55.

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.