Hobbs Group Advisors LLC Invests $128,000 in Comcast Co. (NASDAQ:CMCSA)

Hobbs Group Advisors LLC acquired a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,276 shares of the cable giant’s stock, valued at approximately $128,000.

A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Capital World Investors boosted its holdings in Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares in the last quarter. Norges Bank acquired a new stake in Comcast in the fourth quarter worth about $2,542,988,000. Price T Rowe Associates Inc. MD raised its stake in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Harris Associates L P lifted its holdings in shares of Comcast by 10.9% during the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after purchasing an additional 1,854,671 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Comcast by 3.8% during the fourth quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock worth $687,947,000 after purchasing an additional 570,050 shares during the period. Institutional investors own 84.32% of the company’s stock.

Insider Activity

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast 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 transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Comcast Stock Down 0.6 %

Shares of CMCSA traded down $0.23 during mid-day trading on Tuesday, reaching $40.03. The company’s stock had a trading volume of 11,322,102 shares, compared to its average volume of 20,235,299. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.30. The stock has a market cap of $157.06 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50 day moving average is $38.74 and its 200 day moving average is $40.09.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Equities analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.10%. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CMCSA shares. The Goldman Sachs Group started coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. Evercore ISI decreased their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research note on Tuesday, June 11th. Wells Fargo & Company reduced their target price 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. Finally, KeyCorp reduced their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $45.78.

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.