Fortis Group Advisors LLC Grows Position in Comcast Co. (NASDAQ:CMCSA)

Fortis Group Advisors LLC grew its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,832 shares of the cable giant’s stock after acquiring an additional 1,782 shares during the quarter. Fortis Group Advisors LLC’s holdings in Comcast were worth $452,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CMCSA. Capital Investment Advisors LLC lifted its position in shares of Comcast by 4.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after buying an additional 1,550 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Comcast by 8.9% during the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after buying an additional 15,664 shares in the last quarter. BNP Paribas acquired a new stake in shares of Comcast in the 1st quarter worth $4,117,000. Douglas Lane & Associates LLC increased its stake in shares of Comcast by 0.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after acquiring an additional 15,807 shares during the last quarter. Finally, American National Bank & Trust Co. VA acquired a new stake in shares of Comcast in the 1st quarter worth $426,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMCSA. Macquarie reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Barclays cut their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. KeyCorp cut their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.58.

Comcast Price Performance

Comcast stock traded up $1.34 during trading hours on Tuesday, hitting $41.87. The stock had a trading volume of 5,751,074 shares, compared to its average volume of 19,506,193. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $164.28 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 1.10 and a beta of 1.01. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The stock’s fifty day moving average is $40.34 and its two-hundred day moving average is $39.43.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. As a group, analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

About Comcast

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.