Comcast Corporation $CMCSA Stake Boosted by ProVise Management Group LLC

ProVise Management Group LLC raised its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 511,738 shares of the cable giant’s stock after buying an additional 17,457 shares during the quarter. Comcast accounts for 1.2% of ProVise Management Group LLC’s portfolio, making the stock its 29th largest position. ProVise Management Group LLC’s holdings in Comcast were worth $16,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in Comcast by 39.9% during the second quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock valued at $37,954,000 after buying an additional 300,898 shares during the period. Vanguard Group Inc. lifted its stake in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares in the last quarter. Penserra Capital Management LLC boosted its position in Comcast by 20.0% during the 2nd quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock worth $2,928,000 after acquiring an additional 13,653 shares during the period. Principal Financial Group Inc. boosted its position in Comcast by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock worth $236,810,000 after acquiring an additional 665,635 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its stake in Comcast by 75.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock valued at $10,707,000 after acquiring an additional 146,339 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 1.0%

Shares of Comcast stock opened at $31.91 on Monday. The firm has a market cap of $114.81 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 2.49 and a beta of 0.79. The stock has a 50-day simple moving average of $30.06 and a 200-day simple moving average of $29.94. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CMCSA shares. Citigroup reiterated a “buy” rating and issued a $33.00 target price (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Royal Bank Of Canada dropped their price objective on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, January 16th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Finally, UBS Group decreased their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus price target of $34.87.

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

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.