Sierra Summit Advisors LLC Takes Position in Comcast Corporation $CMCSA

Sierra Summit Advisors LLC bought a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,434 shares of the cable giant’s stock, valued at approximately $1,029,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Vanguard Group Inc. raised its holdings in Comcast by 0.6% in 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. Principal Financial Group Inc. raised its holdings in Comcast by 9.7% in 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 acquiring an additional 665,635 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Comcast by 75.3% in 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 acquiring an additional 146,339 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd raised its holdings in Comcast by 1.0% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant’s stock valued at $355,908,000 after acquiring an additional 113,461 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in Comcast by 3.5% in the third quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock valued at $29,917,000 after acquiring an additional 32,262 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 0.3%

Shares of NASDAQ:CMCSA opened at $24.88 on Thursday. The stock has a market capitalization of $88.88 billion, a price-to-earnings ratio of 4.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. Comcast Corporation has a 1-year low of $24.53 and a 1-year high of $36.66. The company’s fifty day moving average is $27.96 and its two-hundred day moving average is $28.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. Equities analysts anticipate that Comcast Corporation will post 3.58 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is 25.98%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group cut their price target on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Comcast in a report on Thursday, April 23rd. Pivotal Research cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. BNP Paribas Exane cut their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Finally, Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.79.

Comcast Company Profile

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.