Edgestream Partners L.P. Raises Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Edgestream Partners L.P. lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 2,547.0% during the 1st quarter, Holdings Channel reports. The firm owned 178,460 shares of the cable giant’s stock after buying an additional 171,718 shares during the period. Edgestream Partners L.P.’s holdings in Comcast were worth $6,585,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in Comcast in the 1st quarter valued at about $26,000. Abound Financial LLC purchased a new stake in shares of Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the fourth quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates grew its holdings in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $35.64 on Tuesday. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. The stock’s 50-day moving average price is $34.98 and its 200 day moving average price is $35.38. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $133.07 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. Comcast’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Wednesday, July 2nd. Comcast’s dividend payout ratio is presently 32.43%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of analyst reports. Arete Research upgraded shares of Comcast to a “hold” rating in a report on Tuesday, July 8th. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Thursday, April 10th. New Street Research lowered their price objective on Comcast from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 25th. KeyCorp cut their target price on Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on Comcast from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.98.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.