Continuum Advisory LLC Acquires 2,058 Shares of Comcast Co. (NASDAQ:CMCSA)

Continuum Advisory LLC increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 13.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,669 shares of the cable giant’s stock after buying an additional 2,058 shares during the quarter. Continuum Advisory LLC’s holdings in Comcast were worth $768,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CMCSA. Koshinski Asset Management Inc. increased its position in Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after purchasing an additional 249 shares during the last quarter. Taurus Asset Management LLC raised its position in shares of Comcast by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after buying an additional 253 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Comcast by 3.1% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after acquiring an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in 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 acquiring an additional 260 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in Comcast by 2.7% during the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after purchasing an additional 261 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday, November 19th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Finally, TD Cowen decreased their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Comcast Stock Performance

Shares of Comcast stock opened at $39.05 on Tuesday. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm has a market cap of $149.43 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.63 and a beta of 0.99. The stock’s fifty day moving average price is $42.42 and its 200-day moving average price is $40.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Comcast Co. will post 4.26 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, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.18%. Comcast’s payout ratio is 33.33%.

Insider Buying and Selling at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

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.