SummitTX Capital L.P. Has $3.56 Million Stock Position in Comcast Corporation $CMCSA

SummitTX Capital L.P. lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 55.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 123,937 shares of the cable giant’s stock after selling 156,056 shares during the period. SummitTX Capital L.P.’s holdings in Comcast were worth $3,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Imprint Wealth LLC purchased a new stake in shares of 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 fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC grew its holdings in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after buying an additional 401 shares in the last quarter. Main Street Group LTD purchased a new stake in Comcast in the 1st quarter valued at $27,000. Finally, Richardson Financial Services Inc. raised its position in Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after buying an additional 691 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMCSA. Rosenblatt Securities reaffirmed a “buy” rating and set a $31.00 price objective on shares of Comcast in a report on Friday. UBS Group restated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Freedom Capital raised shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Monday, July 6th. Finally, Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a “sector perform” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.96.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $22.80 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $81.45 billion, a PE ratio of 7.38, a P/E/G ratio of 1.84 and a beta of 0.67. Comcast Corporation has a twelve month low of $21.28 and a twelve month high of $34.45. The company has a 50-day moving average price of $23.77 and a two-hundred day moving average price of $27.23.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Equities analysts forecast that Comcast Corporation will post 3.47 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.8%. Comcast’s dividend payout ratio (DPR) is currently 42.72%.

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.