Advisor Resource Council Buys New Position in Comcast Co. (NASDAQ:CMCSA)

Advisor Resource Council purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the third quarter, HoldingsChannel reports. The fund purchased 14,630 shares of the cable giant’s stock, valued at approximately $611,000.

A number of other institutional investors have also modified their holdings of the company. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Comcast during the 3rd quarter valued at about $726,000. Concurrent Investment Advisors LLC increased its holdings in shares of Comcast by 8.5% in the third quarter. Concurrent Investment Advisors LLC now owns 58,871 shares of the cable giant’s stock valued at $2,459,000 after buying an additional 4,605 shares in the last quarter. Maia Wealth LLC lifted its position in shares of Comcast by 38.4% in the third quarter. Maia Wealth LLC now owns 9,577 shares of the cable giant’s stock worth $399,000 after purchasing an additional 2,656 shares in the last quarter. Radnor Capital Management LLC grew its stake in Comcast by 10.5% in the third quarter. Radnor Capital Management LLC now owns 128,905 shares of the cable giant’s stock valued at $5,384,000 after purchasing an additional 12,225 shares in the last quarter. Finally, Catalina Capital Group LLC boosted its holdings in Comcast by 9.2% in the third quarter. Catalina Capital Group LLC now owns 20,410 shares of the cable giant’s stock worth $853,000 after purchasing an additional 1,711 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMCSA. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Finally, TD Cowen cut their price target on 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 given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $45.14 on Thursday. The company has a market capitalization of $174.80 billion, a PE ratio of 12.13, a P/E/G ratio of 1.14 and a beta of 1.00. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $41.00 and a 200 day simple moving average of $39.66.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.27 EPS for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders 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 annualized dividend and a dividend yield of 2.75%. Comcast’s payout ratio is currently 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.