Algert Global LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Algert Global LLC acquired a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 119,718 shares of the cable giant’s stock, valued at approximately $5,001,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. increased its position in Comcast by 0.8% in the 3rd quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after acquiring an additional 249 shares during the period. Taurus Asset Management LLC increased its holdings in shares of Comcast by 2.9% in the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after purchasing an additional 253 shares during the period. Regent Peak Wealth Advisors LLC raised its stake in shares of Comcast by 3.1% during the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Comcast by 4.7% during the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after purchasing an additional 260 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its position in Comcast by 2.7% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CMCSA shares. TD Cowen reduced their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. Finally, StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $43.47 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $166.34 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The business’s fifty day moving average price is $41.98 and its two-hundred day moving average price is $40.05.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. On average, analysts forecast that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is 33.33%.

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.