Simplicity Wealth LLC Has $1.62 Million Holdings in Comcast Co. (NASDAQ:CMCSA)

Simplicity Wealth LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 446.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,949 shares of the cable giant’s stock after purchasing an additional 35,900 shares during the period. Simplicity Wealth LLC’s holdings in Comcast were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Signet Financial Management LLC increased its stake in shares of Comcast by 2.2% in the 1st quarter. Signet Financial Management LLC now owns 98,748 shares of the cable giant’s stock valued at $3,644,000 after acquiring an additional 2,142 shares during the last quarter. Cardinal Capital Management Inc. increased its stake in shares of Comcast by 5.2% in the 1st quarter. Cardinal Capital Management Inc. now owns 680,615 shares of the cable giant’s stock valued at $25,115,000 after acquiring an additional 33,524 shares during the last quarter. Olstein Capital Management L.P. increased its stake in shares of Comcast by 50.5% in the 1st quarter. Olstein Capital Management L.P. now owns 167,000 shares of the cable giant’s stock valued at $6,162,000 after acquiring an additional 56,000 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in shares of Comcast in the 1st quarter valued at about $266,000. Finally, Pallas Capital Advisors LLC increased its stake in shares of Comcast by 83.1% in the 1st quarter. Pallas Capital Advisors LLC now owns 91,798 shares of the cable giant’s stock valued at $3,387,000 after acquiring an additional 41,662 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CMCSA shares. Morgan Stanley set a $37.00 price target on Comcast in a research note on Friday, April 25th. KeyCorp lowered their target price on Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. UBS Group set a $44.50 target price on Comcast in a research note on Friday, April 25th. Barclays lowered their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company cut Comcast from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Comcast Price Performance

Shares of CMCSA opened at $35.62 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $34.35 and its 200 day simple moving average is $36.26. Comcast Co. has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a market cap of $132.99 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.78 and a beta of 0.95.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. On average, research analysts forecast that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s dividend payout ratio is currently 32.43%.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.