Comcast Corporation $CMCSA Shares Bought by Blume Capital Management Inc.

Blume Capital Management Inc. raised its position in Comcast Corporation (NASDAQ:CMCSA) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330,345 shares of the cable giant’s stock after buying an additional 33,480 shares during the quarter. Comcast makes up approximately 2.0% of Blume Capital Management Inc.’s portfolio, making the stock its 21st biggest position. Blume Capital Management Inc.’s holdings in Comcast were worth $10,379,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CMCSA. Capital A Wealth Management LLC grew its holdings in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after buying an additional 436 shares during the last quarter. Avalon Trust Co lifted its position in Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $29,000. Princeton Global Asset Management LLC grew its stake in shares of Comcast by 403.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 686 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Comcast in the second quarter valued at approximately $31,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Up 1.7%

Shares of Comcast stock opened at $31.37 on Monday. The company has a 50-day moving average of $28.79 and a two-hundred day moving average of $30.13. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $114.31 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CMCSA shares. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Evercore reduced their target price on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Citigroup reissued a “buy” rating and set a $33.00 price target (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Finally, Loop Capital lowered their price objective on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.90.

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.