Edgestream Partners L.P. Purchases 3,553 Shares of Comcast Co. (NASDAQ:CMCSA)

Edgestream Partners L.P. boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,974 shares of the cable giant’s stock after buying an additional 3,553 shares during the period. Edgestream Partners L.P.’s holdings in Comcast were worth $2,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its position in Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after buying an additional 2,781 shares in the last quarter. Everett Harris & Co. CA increased its holdings in shares of Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after purchasing an additional 1,486 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Comcast in the 4th quarter worth $2,056,000. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after purchasing an additional 10,936 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CMCSA. The Goldman Sachs Group began coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Evercore ISI dropped their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Scotiabank dropped their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Oppenheimer reiterated an “outperform” rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Hold” and an average price target of $48.53.

Comcast Trading Down 1.4 %

NASDAQ CMCSA traded down $0.55 during trading hours on Monday, hitting $39.53. 23,208,680 shares of the company were exchanged, compared to its average volume of 20,422,516. The stock has a 50-day moving average price of $38.60 and a 200 day moving average price of $40.78. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a market cap of $155.10 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00.

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

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. Comcast’s payout ratio is 32.80%.

Insider Activity at Comcast

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

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.