VCI Wealth Management LLC Makes New $877,000 Investment in Comcast Corporation $CMCSA

VCI Wealth Management LLC purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,302 shares of the cable giant’s stock, valued at approximately $877,000.

Several other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock worth $845,919,000 after purchasing an additional 507,097 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Comcast by 4.9% in the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock worth $390,231,000 after purchasing an additional 630,902 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after purchasing an additional 10,359,800 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Comcast by 5.7% during the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock worth $306,227,000 after purchasing an additional 574,300 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $23.87 on Tuesday. The business’s 50-day moving average is $23.34 and its two-hundred day moving average is $26.07. The company has a market capitalization of $84.71 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.52 and a beta of 0.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. Comcast Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $32.85.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $29.30 billion during 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 company’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. Research analysts predict that Comcast Corporation will post 3.54 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast’s dividend payout ratio (DPR) is 41.77%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CMCSA shares. TD Cowen dropped their target price on Comcast from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $23.00 price target on shares of Comcast in a report on Thursday, October 22nd. Citigroup reduced their price target on shares of Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Thursday, September 24th. Zacks Research cut shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $23.00 price objective on shares of Comcast in a research note on Tuesday, October 13th. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and an average price target 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.