Ridgewood Investments LLC Acquires 5,709 Shares of Comcast Co. (NASDAQ:CMCSA)

Ridgewood Investments LLC grew its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 19.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,023 shares of the cable giant’s stock after buying an additional 5,709 shares during the period. Ridgewood Investments LLC’s holdings in Comcast were worth $1,518,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Greenwich Wealth Management LLC boosted its holdings in shares of Comcast by 2.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after purchasing an additional 219 shares during the last quarter. Legend Financial Advisors Inc. lifted its position in Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after buying an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. boosted its stake in Comcast by 1.6% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after buying an additional 226 shares during the last quarter. Keystone Financial Services grew its holdings in Comcast by 1.1% in the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after buying an additional 229 shares in the last quarter. Finally, Bollard Group LLC raised its holdings in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMCSA. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. Scotiabank cut their target price on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.83.

Comcast Stock Up 1.3 %

NASDAQ:CMCSA traded up $0.50 during midday trading on Friday, reaching $38.35. The company had a trading volume of 14,382,553 shares, compared to its average volume of 20,265,170. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The firm has a market capitalization of $150.47 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.92 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock’s fifty day simple moving average is $38.83 and its 200-day simple moving average is $41.55.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter last year, the business posted $0.92 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. Comcast’s payout ratio is 32.80%.

Insider Transactions at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The stock was 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 of the company’s stock, valued at $6,380,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

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.