Dockside LLC Acquires New Position in Comcast Corporation $CMCSA

Dockside LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 4th quarter, Holdings Channel reports. The fund acquired 31,840 shares of the cable giant’s stock, valued at approximately $952,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Imprint Wealth LLC purchased a new position in shares of Comcast in the 3rd quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast in the 4th quarter worth approximately $27,000. United Financial Planning Group LLC acquired a new position in Comcast in the 3rd quarter worth approximately $28,000. Olistico Wealth LLC acquired a new position in Comcast in the 4th quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. increased its holdings in Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Evercore increased their price target on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a report on Saturday, March 14th. New Street Research cut their price target on shares of Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Rosenblatt Securities cut their price target on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.56.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $24.50 on Monday. The stock has a market capitalization of $87.52 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 1.99 and a beta of 0.68. Comcast Corporation has a 12 month low of $23.13 and a 12 month high of $36.66. The firm’s 50 day simple moving average is $26.32 and its 200-day simple moving average is $28.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business 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 business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. Analysts expect that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

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.