Financial Architects Inc Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Financial Architects Inc lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,731 shares of the cable giant’s stock after selling 1,426 shares during the quarter. Financial Architects Inc’s holdings in Comcast were worth $1,809,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CMCSA. Dynamic Advisor Solutions LLC increased its position in Comcast by 33.2% during the second quarter. Dynamic Advisor Solutions LLC now owns 52,778 shares of the cable giant’s stock valued at $3,009,000 after acquiring an additional 13,157 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Comcast by 23.5% during the second quarter. Brighton Jones LLC now owns 96,843 shares of the cable giant’s stock valued at $5,522,000 after purchasing an additional 18,430 shares during the period. Blume Capital Management Inc. boosted its stake in shares of Comcast by 1.1% during the second quarter. Blume Capital Management Inc. now owns 193,027 shares of the cable giant’s stock valued at $11,006,000 after purchasing an additional 2,105 shares during the period. National Asset Management Inc. boosted its stake in shares of Comcast by 10.8% during the second quarter. National Asset Management Inc. now owns 125,190 shares of the cable giant’s stock valued at $7,114,000 after purchasing an additional 12,215 shares during the period. Finally, Midwest Professional Planners LTD. boosted its stake in shares of Comcast by 13.9% during the second quarter. Midwest Professional Planners LTD. now owns 14,969 shares of the cable giant’s stock valued at $854,000 after purchasing an additional 1,829 shares during the period. 82.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:CMCSA traded up $1.42 during midday trading on Wednesday, reaching $57.01. 1,338,847 shares of the company’s stock were exchanged, compared to its average volume of 16,353,840. The stock has a market cap of $261.66 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.20 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50 day simple moving average is $58.89 and its two-hundred day simple moving average is $57.00. Comcast Co. has a fifty-two week low of $40.97 and a fifty-two week high of $61.80.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.17. The company had revenue of $28.55 billion during the quarter, compared to the consensus estimate of $27.14 billion. Comcast had a return on equity of 14.15% and a net margin of 11.44%. Equities research analysts predict that Comcast Co. will post 3.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 27th. Investors of record on Wednesday, October 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.75%. The ex-dividend date is Tuesday, October 5th. Comcast’s payout ratio is 38.31%.

A number of analysts recently weighed in on the stock. Redburn Partners assumed coverage on shares of Comcast in a research note on Friday, June 25th. They issued a “buy” rating and a $70.00 price objective for the company. Pivotal Research upped their price objective on shares of Comcast from $70.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 30th. Morgan Stanley increased their price target on shares of Comcast from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. Truist Securities increased their price target on shares of Comcast from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Finally, Truist raised their price objective on shares of Comcast from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. One research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $64.93.

Comcast Company Profile

Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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