Jones Financial Companies Lllp Buys New Position in Comcast Corporation $CMCSA

Jones Financial Companies Lllp bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the second quarter, HoldingsChannel reports. The institutional investor bought 81,450 shares of the cable giant’s stock, valued at approximately $2,000,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. lifted its stake in Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after purchasing an additional 2,593 shares during the last quarter. United Bank boosted its holdings in Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after buying an additional 4,290 shares in the last quarter. HUB Investment Partners LLC increased its holdings in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after buying an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and decreased their target price for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Rosenblatt Securities reissued a “buy” rating and issued a $31.00 price target on shares of Comcast in a research note on Friday, July 24th. Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Scotiabank set a $29.00 target price on shares of Comcast in a report on Friday, July 24th. Finally, Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the stock an “underweight” rating in a research report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.96.

Comcast Price Performance

Shares of CMCSA opened at $27.02 on Tuesday. The business’s 50-day moving average is $24.14 and its 200-day moving average is $26.76. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $95.88 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.53 and a beta of 0.67. Comcast Corporation has a fifty-two week low of $21.28 and a fifty-two week high of $34.45.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Equities research analysts expect that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, October 7th. Comcast’s payout ratio is currently 42.72%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.