Edgestream Partners L.P. Acquires Shares of 325,235 Comcast Corporation $CMCSA

Edgestream Partners L.P. acquired a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) in the first quarter, HoldingsChannel.com reports. The fund acquired 325,235 shares of the cable giant’s stock, valued at approximately $9,337,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Imprint Wealth LLC bought a new stake in Comcast during the 3rd quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Comcast in the 4th quarter worth $27,000. Whipplewood Advisors LLC increased its position in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares during the period. Main Street Group LTD purchased a new position in shares of Comcast in the first quarter valued at about $27,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 691 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 1.7%

Shares of CMCSA opened at $24.61 on Thursday. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $23.75 and its 200-day moving average price is $27.17. The firm has a market capitalization of $87.91 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.98 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Sell-side analysts anticipate that Comcast Corporation will post 3.5 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Comcast’s dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of analyst reports. Evercore increased their target price on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. UBS Group restated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Morgan Stanley set a $29.00 price target on Comcast in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Finally, Scotiabank set a $29.00 price objective on Comcast in a research report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.96.

Comcast 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.