Acorn Wealth Advisors LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 41.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,488 shares of the cable giant’s stock after purchasing an additional 1,600 shares during the period. Acorn Wealth Advisors LLC’s holdings in Comcast were worth $208,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. BlackRock Inc. grew its stake in shares of Comcast by 1.0% in the 3rd quarter. BlackRock Inc. now owns 318,519,731 shares of the cable giant’s stock worth $11,278,785,000 after buying an additional 3,046,799 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Comcast by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 150,105,437 shares of the cable giant’s stock worth $5,315,234,000 after buying an additional 1,830,315 shares during the last quarter. FMR LLC grew its stake in shares of Comcast by 10.2% in the 3rd quarter. FMR LLC now owns 123,314,475 shares of the cable giant’s stock worth $4,366,565,000 after buying an additional 11,459,543 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Comcast by 17.6% in the 3rd quarter. Alliancebernstein L.P. now owns 36,684,340 shares of the cable giant’s stock worth $1,298,992,000 after buying an additional 5,499,850 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Comcast by 23.7% in the 2nd quarter. Boston Partners now owns 22,787,062 shares of the cable giant’s stock worth $747,643,000 after buying an additional 4,358,705 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.
Shares of CMCSA stock traded down $0.87 on Friday, reaching $33.75. The stock had a trading volume of 38,680,723 shares, compared to its average volume of 24,963,645. The company has a market cap of $163.44 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The company had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. As a group, analysts expect that Comcast Co. will post 2.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 2.25%. Comcast’s dividend payout ratio is currently 36.89%.
Several analysts recently weighed in on CMCSA shares. BidaskClub upgraded Comcast from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. TD Securities cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, September 25th. Pivotal Research cut their target price on Comcast from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, October 2nd. Citigroup assumed coverage on Comcast in a research note on Wednesday, October 24th. They set a “buy” rating and a $48.00 target price on the stock. Finally, assumed coverage on Comcast in a research note on Wednesday, October 24th. They set a “buy” rating and a $43.00 target price on the stock. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.61.
In related news, EVP Arthur R. Block sold 6,448 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the transaction, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth J. Bacon sold 7,636 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $37.04, for a total value of $282,837.44. Following the completion of the transaction, the director now directly owns 33,603 shares in the company, valued at $1,244,655.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,909 shares of company stock worth $759,602. 1.31% of the stock is owned by insiders.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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