Avantax Advisory Services Inc. Increases Position in Comcast Corporation (NASDAQ:CMCSA)

Avantax Advisory Services Inc. grew its position in Comcast Corporation (NASDAQ:CMCSA) by 6.1% during the first quarter, Holdings Channel.com reports. The firm owned 419,464 shares of the cable giant’s stock after acquiring an additional 24,162 shares during the period. Avantax Advisory Services Inc.’s holdings in Comcast were worth $15,478,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new stake in shares of Comcast in the first quarter valued at about $26,000. Abound Financial LLC acquired a new stake in Comcast in the first quarter valued at about $29,000. Retirement Wealth Solutions LLC boosted its holdings in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Comcast during the 4th quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates raised its stake in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after buying an additional 600 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMCSA. Oppenheimer dropped their price objective on Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. TD Cowen lowered their price target on shares of Comcast from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Scotiabank raised their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Barclays decreased their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, Citigroup dropped their target price on shares of Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.13.

Comcast Stock Performance

CMCSA stock opened at $33.68 on Friday. The firm has a 50 day simple moving average of $35.01 and a 200 day simple moving average of $35.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. The stock has a market cap of $125.75 billion, a P/E ratio of 8.28, a P/E/G ratio of 1.72 and a beta of 0.95.

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

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. Comcast’s payout ratio is currently 32.43%.

Comcast 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.