363,552 Comcast Corporation $CMCSA Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 16.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,549,714 shares of the cable giant’s stock after purchasing an additional 363,552 shares during the period. Douglas Lane & Associates LLC owned 0.07% of Comcast worth $55,482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Comcast by 23.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 168,856 shares of the cable giant’s stock valued at $3,674,000 after buying an additional 32,104 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of Comcast by 40.6% in the third quarter. CoreCap Advisors LLC now owns 14,567 shares of the cable giant’s stock worth $317,000 after buying an additional 4,210 shares in the last quarter. Apella Capital LLC lifted its position in Comcast by 2.5% during the third quarter. Apella Capital LLC now owns 29,160 shares of the cable giant’s stock valued at $611,000 after purchasing an additional 698 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in Comcast by 26.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 19,526 shares of the cable giant’s stock valued at $425,000 after acquiring an additional 4,045 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Comcast by 51.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 27,298 shares of the cable giant’s stock valued at $594,000 after acquiring an additional 9,325 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Down 3.0%

Shares of NASDAQ CMCSA traded down $0.64 during midday trading on Friday, reaching $20.57. 12,373,206 shares of the company’s stock traded hands, compared to its average volume of 32,724,820. The company has a market cap of $73.01 billion, a price-to-earnings ratio of 6.65, a P/E/G ratio of 1.50 and a beta of 0.68. The stock’s 50 day simple moving average is $24.58 and its 200-day simple moving average is $25.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a one year low of $20.54 and a one year high of $32.85.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 6.4%. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Freedom Capital upgraded Comcast to a “hold” rating in a report on Friday, June 12th. Barclays set a $24.00 target price on Comcast and gave the company an “equal weight” rating in a research note on Tuesday, September 29th. Citigroup dropped 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. Morgan Stanley reduced their price objective on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Finally, New Street Research decreased their price objective on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $31.00.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.