Clarity Financial LLC Purchases 179,297 Shares of Comcast Co. (NASDAQ:CMCSA)

Clarity Financial LLC grew its position in shares of Comcast Co. (NASDAQ:CMCSA) by 54.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 510,639 shares of the cable giant’s stock after acquiring an additional 179,297 shares during the period. Comcast comprises 3.3% of Clarity Financial LLC’s portfolio, making the stock its 11th largest position. Clarity Financial LLC’s holdings in Comcast were worth $22,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthspire Advisors LLC raised its stake in Comcast by 4.8% in the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after buying an additional 2,781 shares in the last quarter. Everett Harris & Co. CA raised its stake in Comcast by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after buying an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. raised its stake in Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after buying an additional 1,486 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Comcast in the fourth quarter worth about $2,056,000. Finally, Axxcess Wealth Management LLC increased its stake in shares of Comcast by 10.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after purchasing an additional 10,936 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Insider Activity at Comcast

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. Citigroup cut their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Scotiabank cut their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Finally, BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.62.

Comcast Stock Down 0.0 %

Shares of NASDAQ CMCSA opened at $38.21 on Thursday. The firm’s 50-day moving average price is $38.78 and its 200-day moving average price is $41.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $149.92 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.96 and a beta of 1.00. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. On average, equities research analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.25%. Comcast’s payout ratio is 32.80%.

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.