Cornerstone Advisors LLC Increases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Cornerstone Advisors LLC boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,100 shares of the cable giant's stock after buying an additional 22,800 shares during the quarter. Cornerstone Advisors LLC's holdings in Comcast were worth $9,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of Comcast during the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new position in Comcast during the second quarter worth about $27,000. IAG Wealth Partners LLC grew its holdings in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant's stock worth $30,000 after acquiring an additional 522 shares during the period. McClarren Financial Advisors Inc. lifted its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant's stock valued at $30,000 after purchasing an additional 570 shares during the period. Finally, Archer Investment Corp boosted its holdings in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant's stock worth $32,000 after buying an additional 519 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Benchmark restated a "buy" rating and set a $60.00 target price on shares of Comcast in a research report on Tuesday. Barclays increased their target price on Comcast from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. KeyCorp raised their target price on shares of Comcast from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Macquarie upped their price target on shares of Comcast from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Comcast presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.19.

Comcast Price Performance

CMCSA opened at $42.99 on Thursday. The company has a fifty day simple moving average of $41.82 and a 200 day simple moving average of $39.97. 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 $164.50 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.63 and a beta of 1.00. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $31.78 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Comcast's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Comcast's dividend payout ratio (DPR) is 33.33%.

Comcast 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.

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