Prestige Wealth Management Group LLC Acquires 2,216 Shares of Comcast Co. (NASDAQ:CMCSA)

Prestige Wealth Management Group LLC grew its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,011 shares of the cable giant’s stock after acquiring an additional 2,216 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Comcast were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Burke & Herbert Bank & Trust Co. increased its holdings in Comcast by 42.1% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 23,013 shares of the cable giant’s stock worth $901,000 after purchasing an additional 6,821 shares in the last quarter. Maia Wealth LLC bought a new stake in shares of Comcast during the second quarter worth about $269,000. ORG Partners LLC increased its stake in shares of Comcast by 1,114.9% in the second quarter. ORG Partners LLC now owns 3,098 shares of the cable giant’s stock valued at $118,000 after buying an additional 2,843 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Comcast by 14.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 19,777 shares of the cable giant’s stock valued at $774,000 after buying an additional 2,485 shares during the last quarter. Finally, Sky Investment Group LLC boosted its position in Comcast by 1.3% during the 2nd quarter. Sky Investment Group LLC now owns 76,446 shares of the cable giant’s stock worth $2,994,000 after buying an additional 945 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $39.05 on Tuesday. The firm has a market capitalization of $149.43 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.63 and a beta of 0.99. The firm’s 50-day moving average price is $42.42 and its 200-day moving average price is $40.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.18%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMCSA. TD Cowen dropped their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Wednesday, November 6th. Barclays increased their price target on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Finally, KeyCorp increased their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.19.

Insiders Place Their Bets

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.