First Trust Advisors LP Boosts Stake in Comcast Corporation $CMCSA

First Trust Advisors LP increased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,312,148 shares of the cable giant’s stock after acquiring an additional 1,124,971 shares during the period. First Trust Advisors LP owned approximately 0.31% of Comcast worth $355,428,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC boosted its position in shares of Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares in the last quarter. Avalon Trust Co boosted its stake in shares of 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 in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Comcast in the 2nd quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Comcast in the 2nd quarter worth approximately $31,000. Finally, Total Investment Management Inc. purchased a new position in Comcast in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMCSA. Citigroup reissued a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. UBS Group reduced their price target on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Moffett Nathanson dropped their price objective on shares of Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Finally, Royal Bank Of Canada reduced their target price on Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus price target of $34.87.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.32% of the company’s stock.

Comcast Stock Up 1.0%

Shares of NASDAQ CMCSA opened at $31.91 on Friday. The firm has a market cap of $114.81 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The firm’s 50 day moving average price is $30.06 and its 200 day moving average price is $29.99.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating 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 company had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the previous year, the firm posted $0.96 EPS. Comcast’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is presently 24.58%.

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.