Financial Advisors Network Inc. Takes $299,000 Position in Comcast Corporation $CMCSA

Financial Advisors Network Inc. bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,099 shares of the cable giant’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Sculati Wealth Management LLC raised its position in shares of Comcast by 0.9% during the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant’s stock worth $1,156,000 after acquiring an additional 285 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock worth $134,000 after purchasing an additional 300 shares in the last quarter. Clearstead Trust LLC raised its holdings in Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after purchasing an additional 305 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Comcast by 0.6% during the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant’s stock worth $1,999,000 after buying an additional 310 shares during the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in shares of Comcast by 1.7% in the 1st quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant’s stock valued at $690,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BNP Paribas Exane cut their price target on shares of Comcast from $31.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Moffett Nathanson lifted their target price on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. The Goldman Sachs Group decreased their target price on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Barclays cut their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Finally, New Street Research decreased their price objective on Comcast from $44.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.73.

Comcast Stock Down 0.1%

Shares of NASDAQ CMCSA opened at $33.43 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $34.33 and a 200 day moving average price of $34.78. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The stock has a market capitalization of $123.43 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. Equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast’s dividend payout ratio is 21.82%.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.