BIP Wealth LLC Grows Holdings in Comcast Co. (NASDAQ:CMCSA)

BIP Wealth LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 16.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,616 shares of the cable giant’s stock after purchasing an additional 1,078 shares during the quarter. BIP Wealth LLC’s holdings in Comcast were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Investment Advisors LLC increased its holdings in Comcast by 4.5% in the second 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 during the last quarter. First Hawaiian Bank increased its holdings in shares of Comcast by 8.9% in the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after acquiring an additional 15,664 shares during the last quarter. Douglas Lane & Associates LLC raised its position in shares of Comcast by 0.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after acquiring an additional 15,807 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Comcast by 3,816.0% during the second quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock worth $21,866,000 after purchasing an additional 544,123 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Comcast in the first quarter worth $773,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen lowered their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Comcast in a research report on Tuesday. Macquarie boosted their target price on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.19.

Comcast Price Performance

CMCSA stock opened at $42.32 on Wednesday. The firm has a 50-day moving average of $41.73 and a two-hundred day moving average of $39.95. The firm has a market capitalization of $161.94 billion, a PE ratio of 11.38, a P/E/G ratio of 1.63 and a beta of 1.00. 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 one year low of $36.43 and a one year high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share. On average, analysts forecast that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

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.