Concurrent Investment Advisors LLC Buys 4,605 Shares of Comcast Co. (NASDAQ:CMCSA)

Concurrent Investment Advisors LLC increased its stake in Comcast Co. (NASDAQ:CMCSA) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,871 shares of the cable giant’s stock after acquiring an additional 4,605 shares during the period. Concurrent Investment Advisors LLC’s holdings in Comcast were worth $2,459,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its holdings in shares of Comcast by 4.5% during the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock worth $1,411,000 after purchasing an additional 1,550 shares during the period. First Hawaiian Bank lifted its holdings in Comcast by 8.9% in the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after buying an additional 15,664 shares during the period. Douglas Lane & Associates LLC grew its position 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 buying an additional 15,807 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Comcast by 3,816.0% during the second quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock valued at $21,866,000 after buying an additional 544,123 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Comcast during the first quarter valued at approximately $773,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 2.1 %

NASDAQ:CMCSA opened at $44.19 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $171.13 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.61 and a beta of 1.00. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm has a 50-day simple moving average of $41.00 and a two-hundred day simple moving average of $39.66.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Analysts predict that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.81%. Comcast’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Macquarie reissued a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Comcast in a research report on Wednesday, October 30th. Pivotal Research increased their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock 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 and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

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.