ProVise Management Group LLC Raises Holdings in Comcast Co. (NASDAQ:CMCSA)

ProVise Management Group LLC lifted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,851 shares of the cable giant’s stock after buying an additional 16,795 shares during the period. Comcast comprises 1.5% of ProVise Management Group LLC’s investment portfolio, making the stock its 18th biggest holding. ProVise Management Group LLC’s holdings in Comcast were worth $17,264,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Steph & Co. grew its holdings in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Comcast in the 2nd quarter worth approximately $27,000. OLD Point Trust & Financial Services N A acquired a new stake in Comcast during the 4th quarter valued at $28,000. IAG Wealth Partners LLC grew its holdings in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in Comcast during the 4th quarter valued at $32,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 1.4 %

NASDAQ:CMCSA opened at $39.82 on Thursday. The business’s 50-day moving average is $39.48 and its two-hundred day moving average is $39.67. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The firm has a market capitalization of $156.24 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01.

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

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. Comcast’s dividend payout ratio (DPR) is 32.80%.

Analyst Ratings Changes

CMCSA has been the topic of a number of analyst reports. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Evercore ISI decreased their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.78.

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.