Algert Global LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Algert Global LLC purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 119,718 shares of the cable giant’s stock, valued at approximately $5,001,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC lifted its stake in shares of Comcast by 3.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 321,096 shares of the cable giant’s stock worth $13,412,000 after acquiring an additional 11,948 shares during the period. Cerity Partners LLC raised its holdings in Comcast by 15.0% during the third quarter. Cerity Partners LLC now owns 1,156,427 shares of the cable giant’s stock worth $48,304,000 after purchasing an additional 150,474 shares in the last quarter. Keyes Stange & Wooten Wealth Management LLC lifted its position in Comcast by 3.5% in the third quarter. Keyes Stange & Wooten Wealth Management LLC now owns 15,346 shares of the cable giant’s stock worth $641,000 after purchasing an additional 513 shares during the period. Nicolet Advisory Services LLC boosted its stake in Comcast by 4.0% during the 3rd quarter. Nicolet Advisory Services LLC now owns 30,684 shares of the cable giant’s stock valued at $1,252,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of Comcast by 94.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 14,325 shares of the cable giant’s stock valued at $598,000 after purchasing an additional 6,972 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research analyst reports. TD Cowen cut their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $47.75 to $48.00 in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday, November 19th. Pivotal Research raised their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Price Performance

Shares of CMCSA opened at $43.47 on Monday. The business’s 50-day moving average is $41.98 and its 200-day moving average is $40.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $166.34 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.65 and a beta of 1.00. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. Comcast’s dividend payout ratio is currently 33.33%.

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.