ProVise Management Group LLC Has $16.08 Million Holdings in Comcast Corporation $CMCSA

ProVise Management Group LLC lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 511,738 shares of the cable giant’s stock after acquiring an additional 17,457 shares during the quarter. Comcast comprises approximately 1.2% of ProVise Management Group LLC’s holdings, making the stock its 29th largest position. ProVise Management Group LLC’s holdings in Comcast were worth $16,079,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMCSA. Osaic Holdings Inc. grew its holdings in Comcast by 39.9% during the second quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock valued at $37,954,000 after purchasing an additional 300,898 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after buying an additional 1,257,196 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Comcast by 20.0% in the second quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock worth $2,928,000 after buying an additional 13,653 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Comcast by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock worth $236,810,000 after buying an additional 665,635 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in shares of Comcast by 75.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock worth $10,707,000 after buying an additional 146,339 shares during the period. 84.32% of the stock is owned by institutional investors.

Insider Transactions at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America upgraded shares of Comcast from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Monday, January 12th. Barclays set a $28.00 price target on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. TD Cowen lowered their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Citigroup reiterated a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Finally, Pivotal Research cut Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.87.

Comcast Price Performance

Shares of Comcast stock opened at $31.91 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $114.81 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The firm has a fifty day moving average price of $30.06 and a two-hundred day moving average price of $29.94. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Comcast’s dividend payout ratio (DPR) is 24.58%.

Comcast Company 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.