Sunpointe LLC Acquires 726 Shares of Comcast Corporation (NASDAQ:CMCSA)

Sunpointe LLC grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,971 shares of the cable giant’s stock after acquiring an additional 726 shares during the period. Sunpointe LLC’s holdings in Comcast were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC purchased a new stake in Comcast in the 1st quarter worth $26,000. Abound Financial LLC bought a new stake in shares of Comcast in the first quarter worth about $29,000. Retirement Wealth Solutions LLC lifted its position in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after buying an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast in the fourth quarter worth about $33,000. Finally, Global Wealth Strategies & Associates boosted its stake in 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 buying an additional 600 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CMCSA shares. Evercore ISI reduced their price objective on Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of Comcast from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Scotiabank increased their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Thursday, April 10th. Finally, UBS Group set a $44.50 target price on shares of Comcast in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus price target of $41.13.

Comcast Trading Down 4.8%

CMCSA stock opened at $33.68 on Monday. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The firm’s 50-day moving average is $35.01 and its 200 day moving average is $35.22. The company has a market capitalization of $125.75 billion, a PE ratio of 8.28, a P/E/G ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.

Comcast (NASDAQ:CMCSA) last issued 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. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same period last year, the company posted $1.04 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.92%. Comcast’s 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.