Western Wealth Management LLC Has $2.06 Million Stake in Comcast Corporation $CMCSA

Western Wealth Management LLC lifted its position in Comcast Corporation (NASDAQ:CMCSA) by 421.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,828 shares of the cable giant’s stock after buying an additional 58,049 shares during the quarter. Western Wealth Management LLC’s holdings in Comcast were worth $2,062,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares in the last quarter. State Street Corp grew its position in Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares in the last quarter. Capital World Investors increased its stake 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 purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox increased its stake in shares of Comcast by 0.4% during the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after purchasing an additional 399,596 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock valued at $2,680,747,000 after purchasing an additional 1,465,428 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Shares of Comcast stock opened at $23.96 on Friday. The firm has a fifty day simple moving average of $23.70 and a 200-day simple moving average of $27.12. 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 Corporation has a 1-year low of $21.28 and a 1-year high of $34.45. The stock has a market capitalization of $85.03 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (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 net margin of 8.97% and a return on equity of 14.77%. Comcast’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts expect that Comcast Corporation will post 3.52 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared 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. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, October 7th. Comcast’s dividend payout ratio is 42.72%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CMCSA shares. Freedom Capital raised shares of Comcast to a “hold” rating in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and lowered their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Scotiabank set a $29.00 target price on Comcast in a report on Friday, July 24th. BNP Paribas Exane reduced their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Finally, Barclays set a $26.00 price target on Comcast and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Eleven 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. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average target price of $32.96.

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.