Cascade Investment Advisors Inc. Buys New Position in Comcast Corporation $CMCSA

Cascade Investment Advisors Inc. purchased a new stake in Comcast Corporation (NASDAQ:CMCSA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 49,009 shares of the cable giant’s stock, valued at approximately $1,465,000.

A number of other large investors have also modified their holdings of CMCSA. Capital A Wealth Management LLC boosted its stake in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of Comcast during the third quarter worth $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast during the third quarter worth $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the second quarter valued at $29,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Comcast during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMCSA. Benchmark reduced their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Wall Street Zen raised Comcast to a “hold” rating in a report on Saturday, March 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays set a $28.00 target price on Comcast and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $37.00 in a research report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $34.76.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.32% of the stock is currently owned by corporate insiders.

Comcast Stock Performance

Shares of CMCSA stock opened at $28.33 on Friday. The stock has a market cap of $101.93 billion, a PE ratio of 5.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.79. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.48. The business has a 50-day simple moving average of $30.31 and a 200-day simple moving average of $29.52. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period last year, the business earned $0.96 earnings per share. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is currently 24.58%.

Comcast 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.