ARQ Wealth Advisors LLC Makes New $690,000 Investment in Comcast Corporation $CMCSA

ARQ Wealth Advisors LLC purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,949 shares of the cable giant’s stock, valued at approximately $690,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after purchasing an additional 1,257,196 shares during the last quarter. State Street Corp increased its holdings in Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the period. Dodge & Cox increased its holdings in Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after buying an additional 1,295,598 shares during the period. Norges Bank purchased a new position in Comcast during the 2nd quarter worth approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. raised its position in Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after buying an additional 2,517,906 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMCSA. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Zacks Research cut shares of Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Citigroup restated a “buy” rating and set a $33.00 target price (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Daiwa Securities Group lowered their price target on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada reduced their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $34.87.

Comcast Trading Down 0.9%

Shares of Comcast stock opened at $30.08 on Wednesday. The company has a fifty day simple moving average of $30.23 and a 200-day simple moving average of $29.77. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.72. 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 $108.22 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 2.37 and a beta of 0.79.

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 net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same period last year, the business earned $0.96 EPS. Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. Comcast’s payout ratio is 24.58%.

Insider Buying and Selling at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

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.