Wealth Advisors of Tampa Bay LLC Increases Holdings in Comcast Corporation $CMCSA

Wealth Advisors of Tampa Bay LLC grew its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 37.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,513 shares of the cable giant’s stock after buying an additional 42,405 shares during the quarter. Comcast accounts for approximately 1.6% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 20th largest position. Wealth Advisors of Tampa Bay LLC’s holdings in Comcast were worth $4,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in shares of Comcast by 39.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock valued at $37,954,000 after purchasing an additional 300,898 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after buying an additional 1,257,196 shares during the last quarter. Principal Financial Group Inc. grew its position in Comcast by 9.7% during the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock valued at $236,810,000 after buying an additional 665,635 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in Comcast by 75.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock valued at $10,707,000 after buying an additional 146,339 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in Comcast by 3.5% during the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock valued at $29,917,000 after buying an additional 32,262 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. BNP Paribas Exane cut Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 target price on the stock. in a report on Tuesday, February 24th. Scotiabank lowered their target price on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Royal Bank Of Canada cut their price target on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. Finally, Arete Research set a $23.00 price target on Comcast in a research report on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.87.

Insider Buying and Selling at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $30.16 on Friday. The firm has a market cap of $108.51 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 2.35 and a beta of 0.79. The firm has a fifty day moving average price of $30.13 and a 200 day moving average price of $29.88. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. Comcast’s payout ratio is 24.58%.

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.