Legacy Financial Advisors Inc. Has $356,000 Holdings in Comcast Corporation $CMCSA

Legacy Financial Advisors Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 57.1% in the second quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. BTG Pactual Asset Management US LLC bought a new position in shares of Comcast during the 2nd quarter worth about $3,359,000. M Holdings Securities Inc. lifted its stake in shares of Comcast by 10.5% in the second 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 during the period. Headlands Technologies LLC bought a new stake in shares of Comcast in the second quarter valued at about $2,830,000. Quantitative Investment Management LLC grew its position in Comcast by 8.0% during 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 in the last quarter. Finally, Wedbush Securities Inc. grew 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 worth $1,785,000 after buying an additional 7,645 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Up 1.9%

CMCSA stock opened at $26.81 on Thursday. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The firm has a market cap of $95.14 billion, a P/E ratio of 8.68, a P/E/G ratio of 1.87 and a beta of 0.68. The business’s 50 day moving average is $24.71 and its 200-day moving average is $26.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last posted its 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 the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Equities analysts anticipate that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price target on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. New Street Research decreased their price objective on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Wells Fargo & Company set a $23.00 price objective on Comcast and gave the company an “underweight” rating in a research report on Friday, July 24th. Morgan Stanley set a $29.00 target price on Comcast in a research note on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.96.

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.