Alps Advisors Inc. Increases Stake in Comcast Corporation $CMCSA

Alps Advisors Inc. boosted its position in Comcast Corporation (NASDAQ:CMCSA) by 1.7% during the third quarter, HoldingsChannel reports. The fund owned 1,421,810 shares of the cable giant’s stock after buying an additional 23,421 shares during the quarter. Alps Advisors Inc.’s holdings in Comcast were worth $44,673,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. a16z Perennial Management L.P. bought a new stake in shares of Comcast in the third quarter valued at approximately $360,000. Canada Post Corp Registered Pension Plan grew its stake in Comcast by 130.0% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 113,470 shares of the cable giant’s stock valued at $3,573,000 after buying an additional 64,127 shares in the last quarter. Appleton Partners Inc. MA grew its stake in Comcast by 3.9% in the 3rd quarter. Appleton Partners Inc. MA now owns 35,153 shares of the cable giant’s stock valued at $1,105,000 after buying an additional 1,321 shares in the last quarter. Ironwood Investment Counsel LLC raised its holdings in Comcast by 3.4% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 161,974 shares of the cable giant’s stock valued at $5,089,000 after acquiring an additional 5,363 shares during the period. Finally, MMA Asset Management LLC lifted its position in shares of Comcast by 28.5% during the third quarter. MMA Asset Management LLC now owns 16,499 shares of the cable giant’s stock worth $518,000 after acquiring an additional 3,662 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of several recent research reports. Royal Bank Of Canada reduced their price target on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. KeyCorp lowered Comcast from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 30th. Barclays set a $28.00 price target on Comcast and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $39.00) on shares of Comcast in a report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $34.90.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $31.37 on Friday. The company’s fifty day moving average price is $28.79 and its 200-day moving average price is $30.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $114.31 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.39 and a beta of 0.81. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. On average, equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s dividend payout ratio is 24.58%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.