Legacy Financial Advisors Inc. Increases Stock Position in Comcast Corporation $CMCSA

Legacy Financial Advisors Inc. increased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,457 shares of the cable giant’s stock after buying an additional 702 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Comcast were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new stake in Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC bought a new stake in Comcast during the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC raised its stake in Comcast by 126.9% during the 1st 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 bought a new stake in shares of Comcast during the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates raised its position 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 buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.1%

Shares of CMCSA opened at $33.43 on Tuesday. The firm has a market capitalization of $123.43 billion, a P/E ratio of 5.53, a P/E/G ratio of 2.01 and a beta of 0.92. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $34.33 and a 200-day moving average price of $34.78.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMCSA. Oppenheimer reduced their price objective on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Evercore ISI reduced their price objective on shares of Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Citigroup reduced their price objective on shares of Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. TD Cowen reduced their price objective on shares of Comcast from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Scotiabank raised their target price on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.73.

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.