Wealthfront Advisers LLC Acquires 132,669 Shares of Comcast Corporation $CMCSA

Wealthfront Advisers LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 88.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,128 shares of the cable giant’s stock after purchasing an additional 132,669 shares during the period. Wealthfront Advisers LLC’s holdings in Comcast were worth $8,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Norges Bank purchased a new position in Comcast during the 4th quarter worth $2,498,626,000. Capital World Investors grew its position in shares of Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after buying an additional 24,166,881 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Comcast by 65.1% during the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after buying an additional 21,958,603 shares during the period. State Street Corp raised its holdings in shares of Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Comcast by 2,970.5% in the fourth quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after acquiring an additional 7,153,895 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA stock opened at $23.79 on Friday. Comcast Corporation has a one year low of $22.13 and a one year high of $36.01. The firm has a market cap of $84.98 billion, a price-to-earnings ratio of 4.68, a PEG ratio of 1.99 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day simple moving average of $24.00 and a two-hundred day simple moving average of $27.50.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities analysts forecast that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Rosenblatt Securities raised shares of Comcast from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price objective on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Sanford C. Bernstein reissued a “market perform” rating and issued a $28.00 price objective on shares of Comcast in a research note on Monday. Citigroup lowered their target price on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a report on Monday, June 29th. Finally, New Street Research dropped their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.64.

About Comcast

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.