Patriot Financial Group Insurance Agency LLC Raises Holdings in Comcast Corporation $CMCSA

Patriot Financial Group Insurance Agency LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 13.3% during the second quarter, Holdings Channel reports. The institutional investor owned 115,416 shares of the cable giant’s stock after acquiring an additional 13,530 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Comcast were worth $4,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Merit Financial Group LLC boosted its position in Comcast by 75.2% during the first quarter. Merit Financial Group LLC now owns 116,727 shares of the cable giant’s stock worth $4,307,000 after purchasing an additional 50,100 shares in the last quarter. RFG Advisory LLC boosted its position in Comcast by 120.4% during the first quarter. RFG Advisory LLC now owns 64,488 shares of the cable giant’s stock worth $2,380,000 after purchasing an additional 35,227 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Comcast by 24.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,442 shares of the cable giant’s stock worth $459,000 after purchasing an additional 2,422 shares in the last quarter. Finally, Apella Capital LLC boosted its position in Comcast by 44.6% during the first quarter. Apella Capital LLC now owns 13,783 shares of the cable giant’s stock worth $485,000 after purchasing an additional 4,249 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ:CMCSA opened at $30.40 on Friday. Comcast Corporation has a one year low of $30.38 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $112.24 billion, a PE ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94. The stock has a 50 day moving average price of $32.79 and a 200 day moving average price of $34.20.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is currently 21.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMCSA shares. Citigroup reiterated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Rosenblatt Securities increased their target price on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. Barclays reduced their target price on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Finally, Benchmark reissued a “buy” rating on shares of Comcast in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $40.07.

About Comcast

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.