Financial Advocates Investment Management Purchases 1,731 Shares of Comcast Co. (NASDAQ:CMCSA)

Financial Advocates Investment Management raised its position in Comcast Co. (NASDAQ:CMCSA) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,013 shares of the cable giant’s stock after buying an additional 1,731 shares during the quarter. Financial Advocates Investment Management’s holdings in Comcast were worth $502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMCSA. Fairscale Capital LLC bought a new stake in shares of Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast in the 2nd quarter valued at $27,000. IAG Wealth Partners LLC lifted its position in shares of 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 acquiring an additional 522 shares during the period. McClarren Financial Advisors Inc. grew its holdings in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Finally, Archer Investment Corp increased its position in shares of Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CMCSA. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Barclays cut their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Pivotal Research lifted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen cut their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday. Finally, Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $47.75 to $48.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.63.

Comcast Stock Performance

Comcast stock opened at $43.56 on Friday. The business has a 50 day moving average of $40.80 and a 200-day moving average of $39.58. The company has a market capitalization of $168.69 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.11 and a beta of 1.01. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. 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 (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. On average, equities research analysts predict that Comcast Co. will post 4.24 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 32.98%.

Comcast Company Profile

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.