Elevation Point Wealth Partners LLC Raises Stock Position in Comcast Corporation $CMCSA

Elevation Point Wealth Partners LLC boosted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 5.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 987,693 shares of the cable giant’s stock after acquiring an additional 50,606 shares during the period. Comcast comprises about 0.7% of Elevation Point Wealth Partners LLC’s holdings, making the stock its 28th biggest holding. Elevation Point Wealth Partners LLC’s holdings in Comcast were worth $28,357,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Comcast during the fourth quarter worth about $2,498,626,000. Capital World Investors raised its position in shares of Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares during the last quarter. Capital Research Global Investors lifted its stake in Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after buying an additional 21,958,603 shares in the last quarter. State Street Corp boosted its holdings in Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Comcast by 2,970.5% in the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after buying an additional 7,153,895 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

More Comcast News

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has a strong earnings surprise track record, and recent Zacks/Yahoo analysis says its current setup could lead to another beat when it reports next quarter, which can lift investor confidence ahead of results.
• Positive Sentiment: Investors are seeing strategic optionality from Comcast’s planned separation of its media and technology businesses, including NBCUniversal and Sky, which could unlock value and sharpen the focus on the core broadband business. Comcast’s NBCUniversal Split Puts Broadband Back in Focus
• Positive Sentiment: Some commentary suggests Comcast’s cable-box viewing data could help its ad business in targeted streaming and connected TV, offering a potential way to offset decline in traditional pay TV.
• Neutral Sentiment: Goldman Sachs lowered its price target on Comcast to $26 from $29 and kept a neutral rating, signaling more cautious expectations even though the new target still implies upside from current levels.
• Neutral Sentiment: Coverage ahead of earnings highlights that investors are watching for execution on the spin-off, broadband trends, and margin pressure, keeping the stock tied to both near-term results and the breakup story.
• Negative Sentiment: Several reports note that Comcast shares have been under pressure recently because of tougher broadband competition, margin concerns, and lingering weakness in the stock’s longer-term performance.
• Negative Sentiment: There are also risks around Comcast’s data-driven advertising strategy, including viewer experience, churn, and privacy regulation, which could limit how much benefit the company gets from streaming ads.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Evercore boosted their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. New Street Research reduced their price objective on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, The Goldman Sachs Group reduced their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $34.40.

Comcast Stock Up 0.3%

Shares of NASDAQ CMCSA opened at $23.79 on Friday. The stock has a market cap of $84.98 billion, a PE ratio of 4.68, a P/E/G ratio of 1.95 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12-month low of $22.13 and a 12-month high of $36.40. The company has a 50-day moving average of $24.86 and a 200 day moving average of $27.95.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. As a group, sell-side analysts predict that Comcast Corporation will post 3.5 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

Comcast Company 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.