Comcast Corporation $CMCSA Stock Purchased by Foundation Resource Management Inc.

Foundation Resource Management Inc. boosted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 57.0% during the third quarter, Holdings Channel reports. The firm owned 1,071,254 shares of the cable giant’s stock after purchasing an additional 388,834 shares during the quarter. Comcast comprises about 1.9% of Foundation Resource Management Inc.’s holdings, making the stock its 14th biggest position. Foundation Resource Management Inc.’s holdings in Comcast were worth $23,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Herold Advisors Inc. lifted its holdings in shares of Comcast by 5.1% during the 3rd quarter. Herold Advisors Inc. now owns 16,414 shares of the cable giant’s stock valued at $357,000 after buying an additional 793 shares during the period. Sculati Wealth Management LLC boosted its stake in shares of Comcast by 4.6% in the 3rd quarter. Sculati Wealth Management LLC now owns 42,516 shares of the cable giant’s stock worth $879,000 after buying an additional 1,876 shares during the last quarter. Grant Private Wealth Management Inc boosted its stake in shares of Comcast by 67.8% in the 3rd quarter. Grant Private Wealth Management Inc now owns 28,398 shares of the cable giant’s stock worth $618,000 after buying an additional 11,475 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Comcast by 113.0% in the third quarter. SteelPeak Wealth LLC now owns 22,495 shares of the cable giant’s stock worth $489,000 after acquiring an additional 11,935 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of Comcast by 171.8% in the third quarter. IFP Advisors Inc now owns 210,360 shares of the cable giant’s stock worth $4,577,000 after acquiring an additional 132,967 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA remained flat at $21.90 during mid-day trading on Monday. The company had a trading volume of 30,357,991 shares, compared to its average volume of 32,681,139. The stock’s 50 day simple moving average is $24.14 and its 200 day simple moving average is $24.81. The company has a market capitalization of $77.72 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 1.57 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same period in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 6.0%. Comcast’s payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMCSA. UBS Group reiterated a “neutral” rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research report on Tuesday, September 15th. Weiss Ratings cut Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $31.00 target price on shares of Comcast in a research report on Monday. Citigroup cut their price target on Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, September 24th. Finally, Wells Fargo & Company set a $23.00 price target on Comcast and gave the company an “underweight” rating in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.81.

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.