Lake Street Advisors Group LLC Boosts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Lake Street Advisors Group LLC boosted its position in Comcast Co. (NASDAQ:CMCSA) by 50.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,838 shares of the cable giant’s stock after buying an additional 15,634 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Comcast were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Advisor Resource Council purchased a new position in Comcast in the 4th quarter valued at approximately $241,000. Compagnie Lombard Odier SCmA raised its stake in shares of Comcast by 320.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 52,075 shares of the cable giant’s stock valued at $2,283,000 after purchasing an additional 39,690 shares during the period. Wealthsource Partners LLC lifted its holdings in Comcast by 5.2% during the 4th quarter. Wealthsource Partners LLC now owns 12,546 shares of the cable giant’s stock worth $550,000 after purchasing an additional 620 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Comcast by 105.6% in the 4th quarter. CoreCap Advisors LLC now owns 45,160 shares of the cable giant’s stock worth $1,980,000 after purchasing an additional 23,191 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in Comcast by 184.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 24,779 shares of the cable giant’s stock valued at $1,087,000 after buying an additional 16,076 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 1.1 %

CMCSA stock traded down $0.42 during midday trading on Wednesday, hitting $38.09. The company had a trading volume of 23,447,102 shares, compared to its average volume of 20,517,402. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a market cap of $149.45 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.99 and a beta of 1.00. The stock’s 50 day moving average price is $38.55 and its 200 day moving average price is $40.71.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company lowered their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.58.

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.