Sovran Advisors LLC Takes Position in Comcast Corporation $CMCSA

Sovran Advisors LLC acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,349 shares of the cable giant’s stock, valued at approximately $229,000.

Other institutional investors have also recently bought and sold shares of the company. Advisor OS LLC increased its position in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast in the 1st quarter valued at $335,000. DAVENPORT & Co LLC boosted its stake in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC boosted its stake in shares of Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after purchasing an additional 23,607 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA opened at $31.59 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company’s fifty day moving average price is $33.45 and its two-hundred day moving average price is $34.47. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a market cap of $116.64 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast’s dividend payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CMCSA. Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Benchmark reaffirmed a “buy” rating on shares of Comcast in a research note on Friday, July 18th. UBS Group reduced their price objective on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Finally, Royal Bank Of Canada started coverage on shares of Comcast in a research note on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and an average target price of $40.56.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.