Hollencrest Capital Management Acquires 360 Shares of Comcast Co. (NASDAQ:CMCSA)

Hollencrest Capital Management boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 27.9% in the third quarter, HoldingsChannel reports. The firm owned 1,649 shares of the cable giant’s stock after purchasing an additional 360 shares during the quarter. Hollencrest Capital Management’s holdings in Comcast were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Comcast during the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Comcast in the second quarter valued at about $27,000. IAG Wealth Partners LLC grew its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Finally, Archer Investment Corp boosted its holdings in Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

Comcast stock opened at $43.91 on Friday. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $170.04 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.61 and a beta of 1.00. The business has a 50 day moving average of $41.18 and a 200-day moving average of $39.71.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, equities research analysts predict that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several brokerages have recently commented on CMCSA. Barclays raised their target price on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $47.75 to $48.00 in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. TD Cowen cut their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Comcast Company 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.