Greenup Street Wealth Management LLC Acquires New Stake in Comcast Corporation $CMCSA

Greenup Street Wealth Management LLC acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 50,326 shares of the cable giant’s stock, valued at approximately $1,095,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allied Private Wealth LLC acquired a new position in shares of Comcast in the second quarter valued at approximately $26,000. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Main Street Group LTD purchased a new stake in shares of Comcast during the first quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Comcast during the third quarter worth approximately $27,000. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Comcast during the second quarter worth $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Up 4.3%

CMCSA opened at $23.22 on Friday. Comcast Corporation has a 12 month low of $20.48 and a 12 month high of $32.85. The business has a 50-day moving average of $23.40 and a two-hundred day moving average of $26.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $82.45 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. On average, research analysts expect that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast’s dividend payout ratio is 41.77%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $23.00 price objective on shares of Comcast in a research report on Tuesday, October 13th. Morgan Stanley dropped 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 note on Friday, September 25th. Raymond James Financial restated a “market perform” rating on shares of Comcast in a research report on Friday, October 2nd. Scotiabank reduced their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research note on Friday, October 2nd. Finally, KeyCorp downgraded Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price target on the stock. in a research note on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.17.

Comcast 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.