Comcast Co. (NASDAQ:CMCSA) Position Increased by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its stake in Comcast Co. (NASDAQ:CMCSA) by 11.7% during the 3rd quarter, according to 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 period. Cornerstone Advisors LLC’s holdings in Comcast were worth $9,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. EntryPoint Capital LLC raised its holdings in Comcast by 47.6% during the first quarter. EntryPoint Capital LLC now owns 2,231 shares of the cable giant’s stock worth $97,000 after purchasing an additional 719 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Comcast by 74.0% in the first quarter. CreativeOne Wealth LLC now owns 20,963 shares of the cable giant’s stock valued at $909,000 after buying an additional 8,915 shares during the period. Capital International Sarl grew its holdings in Comcast by 58.5% during the first quarter. Capital International Sarl now owns 127,650 shares of the cable giant’s stock worth $5,534,000 after acquiring an additional 47,128 shares during the period. Canada Pension Plan Investment Board raised its position in Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after acquiring an additional 4,714,586 shares in the last quarter. Finally, Guardian Capital Advisors LP lifted its holdings in Comcast by 2.6% in the 1st quarter. Guardian Capital Advisors LP now owns 135,657 shares of the cable giant’s stock valued at $5,881,000 after acquiring an additional 3,398 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Pivotal Research boosted their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $47.75 to $48.00 in a report on Friday, November 1st. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, KeyCorp lifted their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company 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 stock has a fifty day moving average price of $41.82 and a 200 day moving average price 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. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The stock 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 (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Announces Dividend

The firm 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 of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.88%. Comcast’s dividend payout ratio (DPR) is 33.33%.

About Comcast

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.