Captrust Financial Advisors Acquires 2,043,796 Shares of Comcast Corporation $CMCSA

Captrust Financial Advisors boosted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 242.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,885,250 shares of the cable giant’s stock after purchasing an additional 2,043,796 shares during the period. Captrust Financial Advisors owned about 0.08% of Comcast worth $90,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC lifted its position in 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 buying an additional 436 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Comcast in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the third quarter valued at about $28,000. Howard Hughes Medical Institute acquired a new stake in shares of Comcast in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Comcast during the second quarter worth about $31,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Down 0.9%

Shares of CMCSA stock opened at $30.08 on Wednesday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.72. 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. The firm’s 50-day moving average is $30.23 and its 200-day moving average is $29.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.4%. Comcast’s dividend payout ratio (DPR) is currently 24.58%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMCSA shares. TD Cowen reduced their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Benchmark lowered their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Scotiabank cut their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a report on Friday, January 30th. Zacks Research cut shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Finally, Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.87.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction 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 directly 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 document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by company insiders.

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.