VCI Wealth Management LLC Purchases 40,302 Shares of Comcast Corporation $CMCSA

VCI Wealth Management LLC acquired a new position in shares of Comcast Corporation (NASDAQ:CMCSA) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 40,302 shares of the cable giant’s stock, valued at approximately $877,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Comcast by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock valued at $845,919,000 after buying an additional 507,097 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Comcast by 4.9% in the 1st quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock valued at $390,231,000 after buying an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Comcast by 824.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after buying an additional 10,359,800 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Comcast by 5.7% in the 1st quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock worth $306,227,000 after buying an additional 574,300 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.87 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $84.71 billion, a PE ratio of 7.55, a P/E/G ratio of 1.52 and a beta of 0.68. The business has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $26.07. Comcast Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $32.85.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. As a group, equities analysts expect that Comcast Corporation will post 3.54 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 41.77%.

Analysts Set New Price Targets

CMCSA has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $31.00 price objective on shares of Comcast in a research note on Monday, October 19th. UBS Group restated a “neutral” rating and issued a $27.00 target price (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. BNP Paribas Exane lowered their target price on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Morgan Stanley cut their price target on shares of Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $23.00 price target on shares of Comcast in a research report on Tuesday, October 13th. Ten investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.17.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.