Serenus Wealth Advisors LLC Raises Stock Holdings in Comcast Corporation $CMCSA

Serenus Wealth Advisors LLC raised its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 87.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 349,654 shares of the cable giant’s stock after buying an additional 162,652 shares during the quarter. Comcast comprises approximately 1.4% of Serenus Wealth Advisors LLC’s portfolio, making the stock its 11th biggest position. Serenus Wealth Advisors LLC’s holdings in Comcast were worth $10,986,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction 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 directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by insiders.

Comcast Stock Down 0.1%

CMCSA stock opened at $31.55 on Wednesday. The company has a market cap of $113.51 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 2.41 and a beta of 0.81. 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’s 50-day moving average is $29.47 and its two-hundred day moving average is $30.05. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 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 analyst estimates of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMCSA. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target (down previously from $39.00) on shares of Comcast in a research note on Friday, October 31st. Benchmark decreased their target price on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. UBS Group dropped their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Evercore decreased their price objective on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently 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.