Providence Capital Advisors LLC Buys 5,000 Shares of Comcast Co. (NASDAQ:CMCSA)

Providence Capital Advisors LLC increased its position in Comcast Co. (NASDAQ:CMCSA) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,172 shares of the cable giant’s stock after purchasing an additional 5,000 shares during the quarter. Providence Capital Advisors LLC’s holdings in Comcast were worth $6,189,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in Comcast in the 2nd quarter valued at about $26,000. McClarren Financial Advisors Inc. grew 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 valued at $30,000 after buying an additional 570 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in Comcast by 220.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares during the last quarter. IAG Wealth Partners LLC grew its stake in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the last quarter. Finally, Archer Investment Corp grew its stake 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 buying an additional 519 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $42.56 on Thursday. The company has a market cap of $162.86 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.63 and a beta of 1.00. 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 firm has a 50 day simple moving average of $42.18 and a 200 day simple moving average of $40.12. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. Research analysts predict that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCSA shares. TD Cowen decreased their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.19.

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.