Mechanics Financial Corp Increases Holdings in Comcast Corporation (NASDAQ:CMCSA)

Mechanics Financial Corp grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 131.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,975 shares of the cable giant’s stock after buying an additional 2,257 shares during the quarter. Mechanics Financial Corp’s holdings in Comcast were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Inlight Wealth Management LLC bought a new position in Comcast during the 1st quarter valued at about $26,000. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC increased its position in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast during the fourth quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMCSA. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Evercore ISI lowered their target price on shares of Comcast from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Oppenheimer lowered their target price on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Citigroup lowered their target price on shares of Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of “Hold” and a consensus price target of $41.10.

Comcast Stock Down 2.6%

CMCSA stock opened at $34.72 on Wednesday. The stock has a market capitalization of $129.63 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.72 and a beta of 0.95. The firm has a 50-day simple moving average of $34.99 and a 200-day simple moving average of $35.37. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. Equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. Comcast’s dividend payout ratio is currently 32.43%.

Comcast Company Profile

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.