Concurrent Investment Advisors LLC Boosts Holdings in Comcast Corporation $CMCSA

Concurrent Investment Advisors LLC increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 46.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,791 shares of the cable giant’s stock after buying an additional 36,338 shares during the period. Concurrent Investment Advisors LLC’s holdings in Comcast were worth $3,431,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Generali Investments Management Co LLC increased its holdings in Comcast by 455.6% during the fourth quarter. Generali Investments Management Co LLC now owns 19,180 shares of the cable giant’s stock worth $573,000 after buying an additional 15,728 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Comcast by 5.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 102,850 shares of the cable giant’s stock worth $3,074,000 after buying an additional 5,628 shares during the last quarter. Cora Capital Advisors LLC increased its holdings in Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after buying an additional 362 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Comcast by 22.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 42,045 shares of the cable giant’s stock worth $1,257,000 after buying an additional 7,641 shares during the last quarter. Finally, Diversified Enterprises LLC increased its stake in shares of Comcast by 11.0% in the fourth quarter. Diversified Enterprises LLC now owns 19,210 shares of the cable giant’s stock worth $574,000 after purchasing an additional 1,898 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent research reports. UBS Group reduced their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research note on Thursday. Scotiabank lifted their target price on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.94.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $27.51 on Tuesday. The company has a 50 day moving average of $29.65 and a 200 day moving average of $29.04. The stock has a market cap of $98.98 billion, a P/E ratio of 5.42, a P/E/G ratio of 2.30 and a beta of 0.80. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $36.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. As a group, sell-side analysts forecast that Comcast Corporation will post 3.44 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.8%. Comcast’s payout ratio is currently 25.98%.

About Comcast

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.