Comcast Co. (NASDAQ:CMCSA) Stake Boosted by Prentice Wealth Management LLC

Prentice Wealth Management LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,921 shares of the cable giant’s stock after acquiring an additional 900 shares during the quarter. Prentice Wealth Management LLC’s holdings in Comcast were worth $603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMCSA. Greenwich Wealth Management LLC grew its position in Comcast by 2.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after acquiring an additional 219 shares during the period. Legend Financial Advisors Inc. boosted its stake in Comcast by 17.5% in the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after purchasing an additional 220 shares during the period. Beaumont Asset Management L.L.C. boosted its stake in Comcast by 1.6% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after purchasing an additional 226 shares during the period. Keystone Financial Services lifted its position in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after acquiring an additional 229 shares during the period. Finally, Bollard Group LLC raised its holdings in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.26% of the stock is owned by insiders.

Comcast Price Performance

Shares of CMCSA stock traded down $0.62 during midday trading on Wednesday, reaching $37.78. 11,864,839 shares of the company traded hands, compared to its average volume of 20,514,678. The firm’s 50 day simple moving average is $38.78 and its two-hundred day simple moving average is $41.46. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $148.23 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is 32.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMCSA shares. Oppenheimer restated an “outperform” rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Friday, April 26th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a report on Tuesday, June 11th. Finally, The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday. They issued a “buy” rating and a $44.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Comcast currently has an average rating of “Hold” and a consensus target price of $48.62.

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.