City Center Advisors LLC Increases Stake in Comcast Corporation $CMCSA

City Center Advisors LLC boosted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,081 shares of the cable giant’s stock after purchasing an additional 2,034 shares during the quarter. City Center Advisors LLC’s holdings in Comcast were worth $574,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisor OS LLC grew its position in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Comcast by 10.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in Comcast during the 1st quarter valued at about $335,000. DAVENPORT & Co LLC grew its position in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC grew its position in Comcast by 49.5% during the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after purchasing an additional 23,607 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $33.06 on Friday. The firm’s 50 day moving average price is $33.79 and its 200-day moving average price is $34.60. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $122.06 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent analyst reports. Rothschild & Co Redburn cut their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. UBS Group dropped their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley dropped their price target on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, August 4th. Finally, Royal Bank Of Canada assumed coverage on shares of Comcast in a report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.56.

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.