Icon Wealth Advisors LLC Buys 35,820 Shares of Comcast Co. (NASDAQ:CMCSA)

by · The Markets Daily

Icon Wealth Advisors LLC lifted its position in Comcast Co. (NASDAQ:CMCSA – Free Report) by 257.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,736 shares of the cable giant’s stock after purchasing an additional 35,820 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Comcast were worth $2,077,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Capital Investment Advisors LLC increased its holdings in shares of Comcast by 4.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock worth $1,411,000 after buying an additional 1,550 shares during the last quarter. First Hawaiian Bank increased its stake in Comcast by 8.9% during the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after acquiring an additional 15,664 shares during the last quarter. Parnassus Investments LLC raised its position in Comcast by 3.7% during the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the period. Douglas Lane & Associates LLC lifted its stake 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 valued at $92,331,000 after purchasing an additional 15,807 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its holdings in shares of Comcast by 3,816.0% in the 2nd 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 period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent analyst reports. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Pivotal Research upped their target price on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price objective on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.19.

Check Out Our Latest Stock Analysis on CMCSA

Comcast Stock Performance

CMCSA opened at $43.47 on Friday. The firm’s 50-day moving average price is $41.98 and its 200-day moving average price is $40.03. The company has a market cap of $166.34 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

Comcast (NASDAQ:CMCSA – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion for 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. As a group, equities analysts anticipate that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Comcast Profile

(Free Report)

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.

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