Western Wealth Management LLC Raises Stake in Comcast Corporation $CMCSA

Western Wealth Management LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 421.3% during the first quarter, HoldingsChannel reports. The firm owned 71,828 shares of the cable giant’s stock after buying an additional 58,049 shares during the period. Western Wealth Management LLC’s holdings in Comcast were worth $2,062,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Comcast by 4.9% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after buying an additional 352 shares during the last quarter. Cora Capital Advisors LLC raised its stake in Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after acquiring an additional 362 shares during the last quarter. Oakworth Capital Inc. lifted its position in Comcast by 7.4% during the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock worth $164,000 after acquiring an additional 377 shares during the period. WPG Advisers LLC lifted its position in Comcast by 15.9% during the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after acquiring an additional 384 shares during the period. Finally, Addison Advisors LLC grew its stake in shares of Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 384 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 1.8%

Shares of CMCSA stock opened at $25.65 on Wednesday. The business’s fifty day moving average price is $23.70 and its 200 day moving average price is $26.95. The firm has a market capitalization of $91.02 billion, a PE ratio of 8.30, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, sell-side analysts forecast that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.1%. Comcast’s dividend payout ratio (DPR) is 42.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. UBS Group reiterated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Citigroup reduced their target price on shares of Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. New Street Research lowered their target price on shares of Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Finally, Morgan Stanley set a $29.00 price target on shares of Comcast in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.96.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.