Vestmark Advisory Solutions Inc. Acquires 911,219 Shares of Comcast Corporation $CMCSA

Vestmark Advisory Solutions Inc. grew its holdings in Comcast Corporation (NASDAQ:CMCSA) by 3,584.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 936,640 shares of the cable giant’s stock after purchasing an additional 911,219 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Comcast were worth $27,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Comcast in the 3rd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the 4th quarter worth $27,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the 3rd quarter worth $28,000. Olistico Wealth LLC bought a new stake in shares of Comcast in the fourth quarter worth $29,000. Finally, Richardson Financial Services Inc. grew its holdings in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after acquiring an additional 691 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of several research analyst reports. UBS Group cut their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Scotiabank lifted their price objective on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. New Street Research cut their price objective on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, TD Cowen cut their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.79.

Comcast Price Performance

NASDAQ CMCSA opened at $25.08 on Friday. The company has a market capitalization of $89.59 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average is $27.84 and its 200 day moving average is $28.64. Comcast Corporation has a fifty-two week low of $24.53 and a fifty-two week high of $36.66.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Sell-side analysts predict that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Announces Dividend

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 dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.3%. Comcast’s payout ratio is 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.