Trace Wealth Advisors LLC Makes New Investment in Comcast Corporation $CMCSA

Trace Wealth Advisors LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 87,826 shares of the cable giant’s stock, valued at approximately $1,911,000. Comcast comprises 1.4% of Trace Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cedar Mountain Advisors LLC increased its holdings in Comcast by 48.2% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant’s stock worth $34,000 after buying an additional 389 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Bollard Group LLC lifted its stake in Comcast by 1.1% during the 1st quarter. Bollard Group LLC now owns 37,607 shares of the cable giant’s stock valued at $1,080,000 after acquiring an additional 405 shares during the period. Foster Group Inc. boosted its holdings in shares of Comcast by 5.7% during the 2nd quarter. Foster Group Inc. now owns 8,595 shares of the cable giant’s stock valued at $211,000 after acquiring an additional 460 shares during the last quarter. Finally, NFSG Corp boosted its holdings in shares of Comcast by 12.4% during the 1st quarter. NFSG Corp now owns 4,202 shares of the cable giant’s stock valued at $121,000 after acquiring an additional 463 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMCSA shares. Morgan Stanley decreased their price objective on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, September 25th. TD Cowen dropped their target price on shares of Comcast from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Bank of America reaffirmed a “buy” rating and issued a $35.00 target price (down from $37.00) on shares of Comcast in a research report on Wednesday, September 16th. UBS Group reiterated a “neutral” rating and set a $27.00 target price (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $23.00 price target on shares of Comcast in a report on Thursday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.77.

Comcast Stock Up 5.0%

CMCSA opened at $24.85 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The company has a market capitalization of $88.24 billion, a PE ratio of 7.86, a PEG ratio of 1.67 and a beta of 0.72. The firm’s 50 day simple moving average is $23.23 and its two-hundred day simple moving average is $26.03.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The business had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.22 billion. During the same quarter last year, the company posted $1.12 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.3%. Comcast’s dividend payout ratio (DPR) is presently 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.