Advisors Asset Management Inc. Has $19.42 Million Stock Position in Comcast Corporation $CMCSA

Advisors Asset Management Inc. boosted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 618,069 shares of the cable giant’s stock after buying an additional 50,462 shares during the period. Advisors Asset Management Inc.’s holdings in Comcast were worth $19,420,000 as of its most recent SEC filing.

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

Comcast Stock Up 2.2%

Shares of NASDAQ CMCSA opened at $32.30 on Wednesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. 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 business has a fifty day moving average of $29.00 and a two-hundred day moving average of $30.09. The stock has a market cap of $117.68 billion, a PE ratio of 6.01, a PEG ratio of 2.41 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. As a group, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMCSA. Evercore lowered their price target on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $30.00 target price (down from $39.00) on shares of Comcast in a research note on Friday, October 31st. Benchmark reduced their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Finally, BNP Paribas Exane reissued a “neutral” rating on shares of Comcast in a report on Tuesday, January 27th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and an average target price of $34.90.

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.