Oak Harbor Wealth Partners LLC Buys 2,312 Shares of Comcast Co. (NASDAQ:CMCSA)

Oak Harbor Wealth Partners LLC raised its stake in Comcast Co. (NASDAQ:CMCSA) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,367 shares of the cable giant’s stock after acquiring an additional 2,312 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Comcast were worth $1,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMCSA. Greenwich Wealth Management LLC increased its position in shares of Comcast by 2.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after acquiring an additional 219 shares during the period. Legend Financial Advisors Inc. increased its position in shares of Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after acquiring an additional 220 shares during the period. Beaumont Asset Management L.L.C. increased its position in shares of Comcast by 1.6% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after acquiring an additional 226 shares during the period. Bollard Group LLC increased its position in shares of Comcast by 0.7% in the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after acquiring an additional 244 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of Comcast by 4.5% in the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock valued at $254,000 after acquiring an additional 249 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Pivotal Research reduced their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.78.

Insider Transactions at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Performance

CMCSA stock traded up $0.10 during midday trading on Friday, reaching $39.62. 14,170,218 shares of the company’s stock traded hands, compared to its average volume of 20,335,717. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.30. The stock has a market cap of $155.45 billion, a P/E ratio of 10.48, a PEG ratio of 1.07 and a beta of 1.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock’s 50-day moving average is $38.71 and its 200 day moving average is $40.18.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, analysts anticipate that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.13%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Comcast Company 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.