Comcast Corporation $CMCSA Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 220.9% in the 1st quarter, Holdings Channel reports. The firm owned 121,685 shares of the cable giant’s stock after buying an additional 83,768 shares during the quarter. Procyon Advisors LLC’s holdings in Comcast were worth $3,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. North Dakota State Investment Board acquired a new position in Comcast in the 4th quarter worth $3,754,000. Vest Financial LLC boosted its position in Comcast by 72.1% in the 4th quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock valued at $6,961,000 after buying an additional 97,601 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in Comcast by 53.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 206,112 shares of the cable giant’s stock valued at $6,161,000 after buying an additional 72,129 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Comcast by 10.0% during the fourth quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant’s stock valued at $1,295,200,000 after acquiring an additional 3,952,642 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $23.97 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 1 year low of $22.13 and a 1 year high of $36.01. The firm’s 50-day simple moving average is $24.20 and its 200-day simple moving average is $27.66. The firm has a market cap of $85.63 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 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 the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. Equities analysts forecast that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. 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 presently 25.98%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of analyst reports. Scotiabank lifted their target price on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. Royal Bank Of Canada lifted their price objective on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Freedom Capital raised Comcast to a “hold” rating in a research report on Friday, June 12th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.