Comcast Corporation $CMCSA Stock Holdings Reduced by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 57.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,502 shares of the cable giant’s stock after selling 19,338 shares during the period. Legacy Financial Advisors Inc.’s holdings in Comcast were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. BTG Pactual Asset Management US LLC acquired a new stake in shares of Comcast during the 2nd quarter valued at about $3,359,000. M Holdings Securities Inc. grew its stake in shares of Comcast by 10.5% in the 2nd quarter. M Holdings Securities Inc. now owns 23,103 shares of the cable giant’s stock valued at $560,000 after buying an additional 2,198 shares in the last quarter. Headlands Technologies LLC acquired a new position in Comcast in the second quarter worth approximately $2,830,000. Quantitative Investment Management LLC increased its holdings in Comcast by 8.0% in the second quarter. Quantitative Investment Management LLC now owns 192,672 shares of the cable giant’s stock worth $4,730,000 after buying an additional 14,263 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in Comcast by 11.7% during the second quarter. Wedbush Securities Inc. now owns 72,728 shares of the cable giant’s stock valued at $1,785,000 after acquiring an additional 7,645 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 target price on shares of Comcast in a research note on Monday, July 13th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a “sector perform” rating in a report on Friday, July 24th. Morgan Stanley set a $29.00 price objective on shares of Comcast in a research note on Friday, July 24th. Citigroup cut their target price on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Finally, Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast currently has a consensus rating of “Hold” and an average target price of $32.96.

Comcast Stock Up 1.9%

CMCSA stock opened at $26.81 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The company has a 50-day moving average of $24.71 and a two-hundred day moving average of $26.52. The stock has a market capitalization of $95.14 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts anticipate that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Comcast’s dividend payout ratio (DPR) is 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.