Alps Advisors Inc. Purchases 23,421 Shares of Comcast Corporation $CMCSA

Alps Advisors Inc. grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,421,810 shares of the cable giant’s stock after acquiring an additional 23,421 shares during the quarter. Alps Advisors Inc.’s holdings in Comcast were worth $44,673,000 as of its most recent SEC filing.

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

Comcast Price Performance

CMCSA opened at $31.37 on Friday. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The firm has a 50-day moving average of $28.79 and a 200 day moving average of $30.17. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $114.31 billion, a P/E ratio of 5.84, a PEG ratio of 2.39 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $32.35 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed 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 of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio is 24.58%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $30.00 target price (down from $39.00) on shares of Comcast in a report on Friday, October 31st. KeyCorp cut shares of Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Oppenheimer set a $38.00 target price on shares of Comcast in a report on Tuesday, November 4th. TD Cowen dropped their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Loop Capital reduced their price target on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.