Gateway Wealth Partners LLC Buys Shares of 26,820 Comcast Corporation $CMCSA

Gateway Wealth Partners LLC bought a new position in Comcast Corporation (NASDAQ:CMCSA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,820 shares of the cable giant’s stock, valued at approximately $770,000.

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. boosted its stake in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank boosted its stake in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC grew its holdings in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after purchasing an additional 15,865 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMCSA. Sanford C. Bernstein reiterated a “market perform” rating and set a $28.00 price objective on shares of Comcast in a report on Monday, July 13th. Freedom Capital upgraded Comcast to a “hold” rating in a research note on Friday, June 12th. New Street Research reduced their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. BNP Paribas Exane decreased their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group lowered their price target on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Comcast has a consensus rating of “Hold” and a consensus price target of $32.96.

Comcast Trading Up 1.7%

NASDAQ:CMCSA opened at $24.61 on Thursday. The company has a market capitalization of $87.91 billion, a P/E ratio of 7.96, a PEG ratio of 1.98 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45. The firm has a fifty day simple moving average of $23.75 and a 200-day simple moving average of $27.17.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. On average, equities research analysts anticipate that Comcast Corporation will post 3.5 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date is Wednesday, October 7th. Comcast’s payout ratio is presently 42.72%.

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.