Invst LLC Grows Holdings in Comcast Co. (NASDAQ:CMCSA)

Invst LLC increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 8.4% in the third quarter, HoldingsChannel.com reports. The firm owned 39,839 shares of the cable giant’s stock after buying an additional 3,077 shares during the period. Invst LLC’s holdings in Comcast were worth $1,664,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in shares of Comcast during the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new stake in Comcast during the 2nd quarter worth approximately $27,000. IAG Wealth Partners LLC boosted its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the period. McClarren Financial Advisors Inc. grew its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Comcast during the third quarter worth $30,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.2 %

CMCSA stock opened at $39.53 on Wednesday. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $151.26 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company has a fifty day moving average price of $42.42 and a 200 day moving average price of $40.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Sell-side analysts expect that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Insider Transactions at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.19.

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.