Comcast Co. (NASDAQ:CMCSA) Shares Purchased by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC raised its position in Comcast Co. (NASDAQ:CMCSA) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,035 shares of the cable giant’s stock after acquiring an additional 790 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Comcast were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CMCSA. Steph & Co. lifted its stake in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Comcast during the 2nd quarter worth approximately $27,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast in the 4th quarter valued at approximately $28,000. IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of Comcast during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $39.28 on Wednesday. The firm’s 50 day moving average is $39.43 and its two-hundred day moving average is $39.67. The firm has a market capitalization of $154.12 billion, a P/E ratio of 10.39, a PEG ratio of 1.03 and a beta of 1.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period last year, the firm earned $1.13 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several recent analyst reports. KeyCorp cut their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Barclays lowered their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, September 13th. Finally, The Goldman Sachs Group began coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.78.

About Comcast

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.