DAVENPORT & Co LLC Buys 105,058 Shares of Comcast Corporation $CMCSA

DAVENPORT & Co LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,387,891 shares of the cable giant’s stock after acquiring an additional 105,058 shares during the period. Comcast makes up approximately 0.9% of DAVENPORT & Co LLC’s portfolio, making the stock its 27th biggest position. DAVENPORT & Co LLC’s holdings in Comcast were worth $156,246,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Comcast by 24.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,442 shares of the cable giant’s stock valued at $459,000 after buying an additional 2,422 shares during the last quarter. Vest Financial LLC raised its holdings in Comcast by 76.6% in the 1st quarter. Vest Financial LLC now owns 68,759 shares of the cable giant’s stock valued at $2,537,000 after buying an additional 29,822 shares during the last quarter. Pines Wealth Management LLC boosted its position in Comcast by 27.6% during the 1st quarter. Pines Wealth Management LLC now owns 11,092 shares of the cable giant’s stock worth $409,000 after buying an additional 2,401 shares during the period. Finally, Sivia Capital Partners LLC grew its holdings in Comcast by 5.6% during the 1st quarter. Sivia Capital Partners LLC now owns 10,981 shares of the cable giant’s stock worth $405,000 after acquiring an additional 582 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Sanford C. Bernstein cut their target price on Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, September 10th. UBS Group set a $43.00 price target on Comcast in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comcast in a research note on Saturday, September 27th. Finally, KeyCorp reduced their target price on Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus target price of $40.26.

Comcast Trading Up 1.6%

NASDAQ CMCSA opened at $30.90 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31. The business has a 50 day moving average price of $32.73 and a 200-day moving average price of $34.13. The company has a market cap of $114.09 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

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

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.