32,856 Comcast Corporation $CMCSA Shares Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 55.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 92,150 shares of the cable giant’s stock after acquiring an additional 32,856 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Comcast were worth $2,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sax Wealth Advisors LLC boosted its holdings in Comcast by 49.6% in the third quarter. Sax Wealth Advisors LLC now owns 12,550 shares of the cable giant’s stock valued at $273,000 after acquiring an additional 4,161 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Comcast by 26.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 64,901 shares of the cable giant’s stock valued at $1,412,000 after purchasing an additional 13,434 shares during the period. Atlas Brown Inc. raised its holdings in Comcast by 30.4% during the 3rd quarter. Atlas Brown Inc. now owns 41,874 shares of the cable giant’s stock worth $911,000 after purchasing an additional 9,762 shares during the last quarter. Stokes Capital Advisors LLC raised its holdings in Comcast by 32.8% during the 3rd quarter. Stokes Capital Advisors LLC now owns 16,584 shares of the cable giant’s stock worth $361,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in Comcast by 274.0% during the 3rd quarter. Wedmont Private Capital now owns 56,228 shares of the cable giant’s stock worth $1,312,000 after purchasing an additional 41,192 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Citigroup decreased their price objective on shares of Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Thursday, September 24th. Raymond James Financial reissued a “market perform” rating on shares of Comcast in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.81.

Comcast Stock Performance

CMCSA traded up $0.14 during trading hours on Tuesday, hitting $20.82. The stock had a trading volume of 9,519,273 shares, compared to its average volume of 32,672,119. The company’s fifty day simple moving average is $24.43 and its 200 day simple moving average is $25.02. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The stock has a market cap of $73.86 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Equities analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 6.3%. Comcast’s dividend payout ratio (DPR) is 42.72%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.