Comcast Corporation $CMCSA Stake Raised by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 24.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,303 shares of the cable giant’s stock after purchasing an additional 31,842 shares during the period. Park Avenue Securities LLC’s holdings in Comcast were worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CMCSA. Allied Private Wealth LLC bought a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. Whipplewood Advisors LLC boosted its holdings in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after buying an additional 401 shares in the last quarter. Main Street Group LTD acquired a new position in Comcast in the first quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new position in Comcast in the second quarter worth approximately $29,000. Finally, Financial Freedom LLC increased its holdings in shares of Comcast by 72.8% in the first quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant’s stock valued at $32,000 after buying an additional 465 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA opened at $23.22 on Friday. The stock has a fifty day moving average of $23.40 and a 200-day moving average of $26.09. The firm has a market capitalization of $82.45 billion, a P/E ratio of 7.35, a PEG ratio of 1.57 and a beta of 0.68. Comcast Corporation has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. Comcast’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts forecast that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. Comcast’s dividend payout ratio is currently 41.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMCSA. Citigroup cut their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Thursday, September 24th. Morgan Stanley cut their target price on Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Freedom Broker cut their target price on Comcast from $29.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, October 26th. UBS Group reaffirmed a “neutral” rating and set a $27.00 target price (down from $32.00) on shares of Comcast in a report on Tuesday, September 15th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $23.00 price target on shares of Comcast in a research note on Thursday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.17.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.