Diversify Wealth Management LLC Grows Stake in Comcast Corporation $CMCSA

Diversify Wealth Management LLC increased its position in Comcast Corporation (NASDAQ:CMCSA) by 623.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,951 shares of the cable giant’s stock after acquiring an additional 91,304 shares during the period. Diversify Wealth Management LLC’s holdings in Comcast were worth $2,835,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMCSA. Imprint Wealth LLC bought a new position in Comcast in the third quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast during the 4th quarter worth $27,000. Whipplewood Advisors LLC grew its position in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Olistico Wealth LLC bought a new stake in shares of Comcast during the 4th quarter valued at $29,000. Finally, Richardson Financial Services Inc. increased its stake in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.7%

CMCSA opened at $23.97 on Tuesday. The stock has a market cap of $85.63 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $24.20 and its 200 day moving average is $27.66. Comcast Corporation has a fifty-two week low of $22.13 and a fifty-two week high of $36.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, sell-side analysts forecast that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMCSA. New Street Research decreased their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. BNP Paribas Exane lowered their price objective on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Morgan Stanley cut their price objective on Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.88.

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.