Wesbanco Bank Inc. Purchases 33,028 Shares of Comcast Corporation $CMCSA

Wesbanco Bank Inc. lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 106.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,182 shares of the cable giant’s stock after purchasing an additional 33,028 shares during the quarter. Wesbanco Bank Inc.’s holdings in Comcast were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Capital A Wealth Management LLC increased its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Avalon Trust Co boosted its position in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in Comcast in the second quarter valued at about $29,000. Princeton Global Asset Management LLC raised its position in Comcast by 403.5% in the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after purchasing an additional 686 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Comcast in the second quarter worth about $31,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of CMCSA stock opened at $32.30 on Wednesday. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $37.97. The stock has a market capitalization of $117.68 billion, a PE ratio of 6.01, a PEG ratio of 2.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $29.00 and its 200-day moving average is $30.09.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Loop Capital decreased their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. cut their price objective on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $34.90.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.