Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.58 Million Stock Holdings in Comcast Corporation $CMCSA

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Comcast Corporation (NASDAQ:CMCSA) by 108.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 55,193 shares of the cable giant’s stock after acquiring an additional 28,668 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Comcast were worth $1,585,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. lifted its holdings in Comcast by 4.9% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after acquiring an additional 352 shares in the last quarter. Cora Capital Advisors LLC raised its position in shares of Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after purchasing an additional 362 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Comcast by 7.4% during the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after purchasing an additional 377 shares in the last quarter. WPG Advisers LLC grew its position in shares of Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after purchasing an additional 384 shares during the period. Finally, Addison Advisors LLC grew its position in shares of Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 384 shares during the period. Institutional investors own 84.32% of the company’s stock.

Key Comcast News

Here are the key news stories impacting Comcast this week:

• Negative Sentiment: Scotiabank lowered its price target on Comcast to $32.75 from $36 and kept a sector perform rating, signaling more cautious near-term expectations. Scotiabank cuts Comcast target
• Negative Sentiment: Wells Fargo trimmed its price target to $28 from $29 and maintained an underweight rating, suggesting the firm still sees limited upside. Wells Fargo view on Comcast
• Negative Sentiment: BNP Paribas Exane cut its target to $22 from $25 and reiterated an underperform rating, adding to the bearish analyst sentiment around CMCSA. BNP Paribas Exane cuts Comcast target
• Negative Sentiment: Comcast agreed to a $117.5 million settlement over the Xfinity data breach, which adds legal, reputational, and governance overhangs for investors. Xfinity data breach settlement
• Negative Sentiment: Bernstein cut price targets across major telecom names, including Comcast, citing valuation risk tied to SpaceX/Starlink’s potential direct-to-consumer mobile plans. Bernstein cuts telecom targets
• Neutral Sentiment: Some recent commentary argues Comcast may be trading below fair value after a roughly 49% five-year slide, which could support a rebound if fundamentals stabilize. Fair value article
• Neutral Sentiment: One market update noted Comcast has recently outperformed the broader market, but the move appears modest and does not offset the more prominent analyst and legal concerns. Market performance article

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and dropped their target price for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Moffett Nathanson lowered their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Royal Bank Of Canada raised their price objective on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley reduced their target price on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $33.64.

Comcast Stock Performance

Shares of CMCSA opened at $23.49 on Thursday. The stock has a market capitalization of $83.91 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 1.91 and a beta of 0.67. Comcast Corporation has a 12 month low of $22.13 and a 12 month high of $36.01. The firm has a fifty day simple moving average of $24.08 and a 200 day simple moving average of $27.57. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the previous year, the business earned $1.09 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.33 dividend. 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 5.6%. Comcast’s payout ratio is currently 25.98%.

Comcast 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.