Envestnet Portfolio Solutions Inc. Has $21.42 Million Position in Comcast Co. (NASDAQ:CMCSA)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 494,170 shares of the cable giant’s stock after purchasing an additional 50,698 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Comcast were worth $21,422,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CMCSA. Greenwich Wealth Management LLC raised its stake in Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares in the last quarter. Legend Financial Advisors Inc. raised its stake in Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after acquiring an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. raised its stake in Comcast by 1.6% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after acquiring an additional 226 shares in the last quarter. Keystone Financial Services raised its stake in Comcast by 1.1% during the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after acquiring an additional 229 shares in the last quarter. Finally, Bollard Group LLC raised its stake in Comcast by 0.7% during the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after acquiring an additional 244 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly 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 available through the SEC website. 1.26% of the stock is owned by company insiders.

Comcast Trading Up 1.4 %

Shares of Comcast stock traded up $0.54 on Friday, reaching $38.29. 16,748,291 shares of the company’s stock were exchanged, compared to its average volume of 20,369,994. The company has a market capitalization of $150.24 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The firm’s 50-day moving average is $38.50 and its two-hundred day moving average is $41.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Sell-side analysts predict that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s payout ratio is 32.80%.

Analyst Ratings Changes

Several brokerages have commented on CMCSA. Evercore ISI lowered their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company lowered their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. Finally, Citigroup lowered their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.53.

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.