Red Door Wealth Management LLC Increases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Red Door Wealth Management LLC grew its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 13,417 shares of the cable giant’s stock after buying an additional 731 shares during the period. Red Door Wealth Management LLC’s holdings in Comcast were worth $582,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CMCSA. Steph & Co. grew its stake in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after acquiring an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the 4th quarter worth about $28,000. Pineridge Advisors LLC acquired a new stake in shares of Comcast during the 4th quarter valued at about $32,000. Finally, Financial Synergies Wealth Advisors Inc. grew its position in shares of Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 593 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMCSA. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. Citigroup cut their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 29th. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. Finally, Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.62.

Comcast Trading Up 2.3 %

Shares of CMCSA stock traded up $0.88 during trading hours on Friday, hitting $39.16. The company had a trading volume of 38,288,913 shares, compared to its average volume of 19,560,456. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $153.65 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The company’s fifty day moving average is $38.71 and its 200 day moving average is $41.39. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, July 3rd. Comcast’s payout ratio is currently 32.80%.

Insider Activity at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by company insiders.

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.